Crude production slightly up in December
Wednesday, January 5 2005 - 01:52 AM WIB
Indonesia's crude oil output edged up slightly to 977,900 barrels per day (bpd) in December from 960,900 b/d in November, Dow Jones quoted a government official as saying on Tuesday.
The official said Indonesia produced 129,700 bpd of condensates last month, down from 136,100 bpd in November.
Indonesia, the only Asian member of the Organization of Petroleum Exporting Countries, remained unable to meet its OPEC quota of 1.4 million bpd because of dwindling reserves after years of exploitation. A lack of legal certainty has also hampered new exploration in the country.
The new government, which took office in late October, has vowed to take steps to increase exploration efforts. These steps include the possibility of removing import duties on capital goods that are imported by companies for oil and gas exploration in Indonesia. (*)