Chevron sees 7% production decline from C. Sumatra oilfields
Thursday, August 2 2007 - 05:20 AM WIB
Indonesia’s top crude producer Chevron Pacific Indonesia (CPI) said on Thursday that its 2007 oil production is expected to average at 415,000 barrels per day, declining 7-8 percent compared to last year’s production.
CPI President Suwito Anggoro told reporters that 2008 production would also likely to fall by 7 percent compared to 2007 production.
CPI, a unit of US oil giant Chevron Corp., operates several maturing oilfields in several PSCs in Central Sumatra.
Suwito said CPI is investing to arrest decline from its oil fields by using advanced recovery technologies. Without investment in maintenance, said Suwito, production would have been declined by 15 percent annually. (godang/bernard)