Indonesia Sees Month on Month Decline in July Gas Output

Indonesia's average natural gas output at the end of July showed minor month on month decline, according to SKKMigas, country’s oil and gas industry regulator.

As on July 30, average gas production stood at 7,962 mmscfd compared with 7,985 mmscfd reported on June 30.

Average oil production as on July 30 was 834.7 thousand bpd compared with 834.4 thousand bpd reported on the same date last month.

"With the support of all parties, we are optimistic that the production target set by the government can be achieved," said Head of the Special Working Upstream Oil and Gas (SKK Migas), Amien Sunaryadi on Tuesday.

Government has set annual average oil production target of 820 thousand bpd, while natural gas output target has been set at 6,440 mmscfd.

Meanwhile, the regulator said that oil and gas industry received investment of $5.65 billion during the first of 2016.