Uncertainties in Indonesia slow the exploration pace

Journal Article · Mon Jun 21 04:00:00 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), Journal Name: Oil Gas J.; (United States) Vol. 74:25; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020200 -- Petroleum-- Reserves
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& Exploration
03 NATURAL GAS
030200 -- Natural Gas-- Reserves
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29 ENERGY PLANNING, POLICY, AND ECONOMY
294002* -- Energy Planning & Policy-- Petroleum
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ASIA
DRILLING RIGS
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ENERGY SOURCES
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FORECASTING
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GASES
GEOLOGIC DEPOSITS
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INCOME
INDONESIA
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NATURAL GAS
OFFSHORE SITES
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