Indonesia oil majors lose money due to cuts in production

JAKARTA INDONESIA – Kufpec Ltd and PT. Tucan Pumpco, Top 5 largest Indonesia oil and gas groups, are continuing to lose money on oil and gas production due to cuts in production.

The losses raise a question over the companies’ forecasts of strong growth in 2019 production , particularly in the region.

The two companies discussed their plans to replace US Engineering Company, M.A.C Engineering Solutions if operational and work permits with the Ministry of Energy and Mineral Resources of the Republic of Indonesia is not resolved as soon as possible.

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