JAKARTA, Jan 12 (Reuters) - Indonesia's 2023 oil lifting stood at 605,500 barrels per day (bpd) while natural gas lifting stood at 5,378 million standard cubic feet per day (mmscfd), upstream oil and gas regulator SKK Migas said on Friday.
Both figures came in below the government's target in the state budget.
For 2024, the regulator estimated 596,000 bpd and 5,544 mmscfd oil and gas lifting respectively, which are below the government's targets for this year in the state budget. The government is aiming for 635,000 bpd oil lifting and 5,785 mmsfd gas lifting.
The SKK Migas estimates came from work plans submitted by oil and gas contractors.
Depleting reserves combined with delays in new major projects have resulted in sluggish oil and gas lifting in Indonesia, which was once an OPEC member.
(Reporting by Fransiska Nangoy, Bernadette Christina Munthe; Editing by Kanupriya Kapoor)
