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Oil price is the elephant in the room – KrisEnergy’s Lorentz

Richard Lorentz, director of business development at Kris Energy (SGX:SK3), says 2016 will be a ‘lean and mean year’ as the upstream producer shaves capex spending to the lowest in the company’s six-year history.

With oil prices at current levels the company won’t have any exploration exposure this year.

Instead the prime focus is the gas developments in North Sumatra and East Java which Lorentz hopes will come on stream in 2018 when KrisEnergy will “swing dominantly towards gas production.”

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