ChevronTexaco Indonesian liquids production down 18% in Q1

U.S. oil giant ChevronTexaco reported Friday its Indonesian net liquids production had dropped by 18 percent to 195,000 BPD in the first quarter of 2004 from 230,000 BPD in last year?s corresponding quarter.

ChevronTexaco's subsidiary PT Caltex Pacific Indonesia is the country's largest oil producer, producing more than 40 percent of Indonesia's crude production from its three production sharing contracts in Central Sumatra. ChevronTexaco also has a 25 percent non-operating interest in the South Natuna Sea Block B, which is operated by ConocoPhillips.

ChevronTexaco Indonesian net liquids production reached approximately 222,000 BPD last year. (robert)