Berita

JAKARTA – The Working Meeting of Comission VII The House of Representatives (DPR) with Ministry of EMR, Monday (10/9), agreed the oil and gas lifting in State Budget Plan (RAPBN) 2013 for 2.260.000 BOEPD (Barrel of Oil Per Day), consisting of oil for 900.000 BOEPD and natural oil for 1.360.000 BOEPD.

The Working Meeting led by the Head of Comission VII Sutan Bhatoegana was also agreed the Indonesia Crude Price (ICP) for US$ 100 per barrel. This was based on the speech of Financial Memorandum read by the President Susilo Bambang Yudhoyono on August 16th, 2012.

Minister of EMR, Jero Wacik explained that oil and gas production has continuously decreased since 1996 and is predicted to reach the lowest point in 2012 and 2013. The production increased will happen by 2014, especially from Cepu Block. The gas production will also start to increase by 2013. 

If both increases are combined, the oil and gas production by 2013 will reach 2.260.000 BOEPD, by 2014 will be 2.393.000 BOEPD and will be 2.570.000 BOEPD by 2015.

Concerning the projection of ICP 2013, based on the world oil price, will tend to increase in the first quarter of 2012 but tend to decrease in early second quarter of 2012 due to the easing tension in Middle East and the better economic condition in USA. In the third quarter of 2012, the world oil price increased due to the worsening geopolitical situation in Middle East.

Besides, the world oil price prediction by 2013 based on various sources such as WTI, Reuters and Brent was ranging from US$ 65 – 140 per barrel.

“We calculate that if 100 becomes the basic assumption (oil price), it will be quite secure to overcome the oil price fluctuations in the future. We also could not guarantee the ICP will be more than 100 because it relates to the world and ourselves,” he said.

However, according to the Ministry of EMR, the number of ICP US$ 100 per barrel can be accounted to be the basic assumption 2013. DPR and the Government also agreed the volume of subsidized BBM for 46, 01 million KL, consisting of premium/bioethanol 29, 20 million KL, kerosene 1, 70 million KL and biodiesel 15, 11 million. LPG 2 kg was agreed for 3, 86 million ton. 

Subsidized biodiesel was agreed for Rp 3.000 per liter, bioethanol subsidy Rp 3.500 per liter. The subsidized LGV is Rp 1.500 per liter and the alpha subsidized BBM Rp 642, 64 per liter by the ICP assumption of US$ 100 per barrel and the exchange rate of Rp 9.300 per liter. (AK)