Govt has no problem to reach oil production target

State owned oil and gas company Pertamina will have no problem to reach the oil production target of 1.23 million barrels (bpd) next year, given the existing level of its production capacity.

According to the existing data, the country?s oil production ranges between 1.25 million and 1.26 million bpd.

More than half of the total production come from PT Caltex Pacific Indonesia?s field in Riau province. Although security problem often takes places in the company?s oil fields, its total oil production level is still above 630,000 level.

According to data obtained by Neraca, the country?s oil production reached about 1.25 million bpd last month, still below the production quota of 1.25 million bpd set by the Organization of Petroleum Exporting Countries (OPEC).

The government has set a target to produce about 1.23 million barrels per day (BPD) in the 2002 state budget, far below between 1.3 million BPD and 1.5 million in this year.(*)