Government raises oil production target

Minister of Energy and Mineral Resources Purnomo Yusgiantoro said on Thursday that the government has raised the country's crude oil production target for next year to 1,110 barrels per day from 1,075 bpd this year.

Purnomo said there would be an estimated increase in the oil output by 60,000 bph next year. "The increase could be higher but we should not be over optimistic," he was quoted as saying.

The higher oil production target was unveiled during a hearing between the ministry of energy and mineral resources and the budgetary commission of the House of Representatives (DPR) on Wednesday night.

The budgetary commission and the ministry of finance is currently deliberating a revision in the 2005 state budget, and the draft state budget for 2006 calendar year. (godang/dino)