JAKARTA: Indonesia expects gross revenue from oil and gas to fall to between US$18.7 bil and US$22.31 bil next year, the chairman of upstream oil and gas regulator SKK Migas told parliament on Thursday.
Oil prices of US$40, US$45 or US$50 per barrel would produce gross revenue of US$18.7 bil, US$20.49 bil or US$22.31 bil, Dwi Soetjipto said.
This would contribute US$5.30 bil to US$7.19 bil to government income, he added.
For 2020, Indonesia cut its oil and gas gross revenue outlook to US$17.86 bil, having cut it by nearly half in April to US$19 bil from US$32 bil.
This assumes an oil price of US$38 per barrel and would mean US$5.86 bil in government income.
SKK Migas kept its 2021 crude lifting estimates unchanged from this year at 705,000 barrels per day for oil and 5,638 million cubic feet per day for gas. – June 18, 2020, Reuters
