JAKARTA: At least 15 oil and gas projects are expected to come onstream in Indonesia in 2012 as Southeast Asia's largest economy is struggling with declining output, the energy regulator BPMigas said on Sunday.
Combined output from the projects is expected to produce 1.158 million standard cubic feet of gas (MMSCFD) and 35,200 barrels of oil per day (BPOD), BPMigas said in a statement. These projects would add to Indonesia's annual average of 400 million cubic of gas per day and 15,000 barrel of oil per day.
"We would like to reduce declining pace to 3 percent from 12 percent," Rudi Rubiandini, deputy of operating control of upstream oil and gas.
In January 2012, Indonesia's oil reserve is forecast to decline to 3.925 billion barrels of oil from 4.039 billion barrels the previous year. Meanwhile, gas reserves are estimated at 104.5 trillion standard cubic feet of gas compared with 104.7 trillion cubic feet of gas in the same period in 2011.
Indonesia, a former OPEC member, has been struggling with declining oil output from ageing fields and rising demand for gas, which is limiting its gas export potential.
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