Indonesian oil and gas output may decline by 196 mmboe in 2011 - SteelGuru

The Jakarta Post reported that Indonesia's oil and gas production may slump by around 196 million barrel oil equivalent in 2011 if the government insists on going ahead with a plan to implement the cabotage principle in May 2011.

Visit http://metlifeinsuranceproducts.wordpress.com/ for MetLife Insurance Products News and Reviews.

Mr Sammy Hamzah VP of Indonesian Petroleum Association told the House of Representatives Commission V overseeing transportation affairs that the House should consider excluding several types of vessels used in the oil and gas industry from being subject to the principle. Mr Sammy said that the production and investment losses came from four major production sharing contract holders, which are Chevron, ConocoPhillips, Total E&P Indonesie and ExxonMobil.

Indonesian oil and gas output may decline by 196 mmboe in 2011 - SteelGuru