Indonesia's oil and gas companies will increase their spending next year by 43.3% from 2010 to $18.91 billion in a bid to meet the country's output target of 970,000 b/d, a senior BPMigas official said Friday.
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Questions are mounting over the preparation for planned cuts in fuel subsidies starting in January.
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Indonesia has approved a development plan for a liquefied natural gas floating terminal project run by Japan's biggest oil and gas explorer Inpex Corp, a senior energy official said on Monday.
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The government has blamed the absence of comprehensive data for the lack of investor interest in an auction for the development of new oil and gas fields, a senior energy official says.
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The Ministry of Energy and Mineral Resources (ESDM) figured that the targeted oil lifting this year of 965 thousand barrels per day will not be achieved.
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