The Indonesian government Friday expressed confidence that the oil and gas sector will earn 153.1 trillion rupiah (around 15.3 billion US dollars) in 2005, up 41.5 percent over last year.

"We are optimistic that revenue (from oil and gas sector) will reach 153.1 trillion rupiah, or up 41.5 percent, from last year's 108.2 trillion rupiah (10.8 billion dollars)," Minister of Energy and Mineral Resources Purnomo Yusgiantoro told reporters here.

As of Nov. 23, 2005, revenue from the sector stood at 96.29 trillion rupiah (9.6 billion dollars), according to the data from Purnomo's office.

Purnomo said crude oil export volume fell 157.5 million barrels in 2005 from 178.87 million barrels in the preceding year, but the export value rose to 8.05 billion dollars from 6.47 billion.

"Export volume fell but export value was up due to the soaring global oil prices," he told a press conference at his office here.

The same thing happened at liquefied petroleum gas (LPG) and liquefied natural gas (LNG) exports, he said.

LPG export volume fell slightly to 1.02 million tons from 1.02 million tons but export value rose to 406 million dollars from 356 million dollars.

LNG export volume also saw a modest drop to 1.3 million metric British thermal unit (mmbtu) from 1.32 mmbtu, but the value climbed to 8.23 billion dollars from 7.72 billion.

Purnomo said the country's estimated oil reserves fell to 4.18 billion barrels in 2005 as opposed to 4.3 billion barrels last year.

On the other hand, natural gas reserves increased to 97.25 trillion cubic feet from 94.77 trillion cubic feet, he said.

Source: Xinhua