State Oil and Gas Revenue May Exceed $33b in 2013
Oil and gas regulator BP Migas is estimating state revenue from the oil and gas sector will reach between $31.8 billion and $33.1 billion in 2013 based on an estimate of 910 barrels per day, an official said on Monday.
Deputy of operations at BP Migas, Rudi Rubiandini, said the revenue estimate was based on 910 barrels per day and a recovery cost of $16.2 to $16.4 billion.
“The amount of state revenue in 2013 will not be too different than that in 2012 which was $33.485 billion,” Rudi told a hearing with House Commission VII late on Monday evening.
Rudi said state revenue in 2011 reached $35 billion while in 2010 it reached $26.497 billion and in 2009 $19 billion. The recovery cost for that period was around $15 billion with a lifting of around 900 barrels per day.
“The recovery cost size is rising because gas production is also on the rise. Gas production is also considered in computing recovery cost, not only oil,” he said.