Chevron spends $290m to increase E. Kalimantan production

Chevron Indonesia Co (CICO), a unit of US oil giant Chevron Corp. that runs East Kalimantan upstream operations will invest US$290 million in 2009-10 to drill new wells and maintain existing wells.

Senior VP East Kalimantan Operations Timothy Miller was quoted by media as saying that the expenditure included drilling of 28 new shallow water wells which added 15,000 BOEPD to the company?s production.

Chevron operates several PSC s in East Kalimantan.

Miller said that as per August 17, 2009, CICO?s production stood at 31,000 BPD of crude and 114MMCFD of gas. (*)