House approves cut in oil lifting target

By Febry Silaban

The House of Representatives Commission VII on energy and mining finally approved on Tuesday the proposed reduction in oil lifting target in the revised 2014 state budget to 818,000 bpd from the original target of 870,000 bpd.

The approval was made during a hearing with Minister of Energy and Mineral Resources Jero Wacik.

The government has proposed for a cut in the oil lifting target following a delay in the production of the Cepu block project in Central Java to 2015 from the initial plan of November of this year, and production obstacles suffered by a number of oil fields in the previous months.

Editing by Reiner Simanjuntak