“About $12 billion is for production, while the rest $2 billion for exploration,” BPMigas spokesman Gde Pradyana said without giving details of projects, Reuters reported.

At least 15 oil and gas projects are expected to come onstream in Indonesia in 2012 as southeast Asia’s largest economy tries to boost production to around 930,000 to 950,000 barrel per day.

Indonesia, a former OPEC member, has been struggling with declining oil output from ageing fields and rising domestic demand for gas, which is limiting its gas export potential.