CPI plans to raise oil production to 700,000 bpd: Source

PT Caltex Pacific Indonesia (CPI) plans to raise its oil production up to around 700,000 bpd soon as security condition has recently improved, according to a company source.

The source said that the company?s production was currently at 630,000 bpd compared to around 600,000 bpd last month when operation was disrupted by growing anti-U.S. protest triggered by the air strikes in Afghanistan.

The source said that the company was no longer facing security problem.

CPI is the country?s largest oil producer operating in the Riau province. The company is controlled by Chevron Texaco Corp. (Godang)