CPI sees slight crude production decline in 2005
Tuesday, February 22 2005 - 06:40 AM WIB
President W. Yudiana said that in 2004, CPI average production was 507,000 barrels per day. ?CPI is applying surfactant injection method at Minas field, which, hopefully, will be able to hold back production decline,? he said. According to Yudiana, Minas currently produces some 100,000 BPD.
CPI, a wholly owned subsidiary of US oil major ChevronTexaco, produces crude from its Central Sumatra oilfield. The company?s oil fields are on the decline mode and CPI is trying hold back production decline through application of various tertiary recovery technologies.
Meanwhile, Yudiana said that CPI is also studying the possibility to acquire new exploration blocks which tender is going to be held this year. ?We will be focusing in East Java and Makassar Strait,? he said. (godang)