Publication Date:
Wed, 2011-06-01 18:28
Total operates the Mahakam gas block, which supplies gas to the Bontang LNG plant and has a target for output this year of 2.383 bcf per day. Elisabeth Proust, Total’s country head for exploration and production, said it was challenging to lift output as it is a mature block.
“We spend around $2 billion per year to fight against the natural decline,” Proust told lawmakers during a hearing on Wednesday.
Indonesia has struggled to attract new investment into increasing energy production, given policy uncertainty and red tape in the former OPEC member.
Southeast Asia’s biggest economy is seeing growing gas demand and its exports of LNG, the third largest after Qatar and Malaysia, will fall to 362 cargoes this year from 427 in 2010.
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