Uncertainties in Indonesia slow the exploration pace

Journal Article · Mon Jun 21 00:00:00 EDT 1976 · Oil Gas J.; (United States)

OSTI ID:7339783

Auldridge, L

Oil production in Indonesia has risen to 1.53 million bbl/day from a level of 465,000 bbl/day in 1966, the rise about equally divided between onshore and offshore sites. Output is predicted to go to 1.7 million bbl/day in 1976. But production in 1977 is expected to decline. The three main reasons for this development are: heavy spending for field development is diverting some offshore capital from exploration; the current drive by the Indonesian government to reduce foreign contractors' share of profits while increasing its own; and the Internal Revenue Service ruling that would treat production-sharing crude-oil payments to the Indonesian government (among others) as royalties rather than taxes. Foreign oil operators produce 95 percent of the country's oil, so the Indonesian government is planning to increase its take from the oil operators in 1976 to $4.19 billion from the $3.12 billion in 1975. The operations of Caltex, Stanvac, ARCO, Iiapco, Union--Tapex, Total, Cities group, Phillips group, Trend, Huffco, Mobil, and Gulf/BP in the country are reviewed briefly. (MCW)

• OSTI ID: 7339783
• Journal Information: Oil Gas J.; (United States), Vol. 74:25
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING
POLICY AND ECONOMY
02 PETROLEUM
03 NATURAL GAS
INDONESIA
PETROLEUM INDUSTRY
PETROLEUM DEPOSITS
EXPLORATION
FORECASTING
DRILLING RIGS
ECONOMIC POLICY
GOVERNMENT POLICIES
INCOME
NATURAL GAS
OFFSHORE SITES
PROCESSING
PROFITS
TAXES
ASIA
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GEOLOGIC DEPOSITS
INDUSTRY
RESOURCES
294002* - Energy Planning & Policy- Petroleum
294003 - Energy Planning & Policy- Natural Gas
020200 - Petroleum- Reserves
Geology
& Exploration
030200 - Natural Gas- Reserves
Geology
& Exploration