Indonesia can meet 2004 oil output target of 1.15 MBPD

The government is optimistic that next year’s oil production target of 1.15 million barrels per day (MBPD) can be met, Bisnis Indonesia daily reported Tuesday.

In order to make that happen, upstream oil and gas authority BPMIGAS has pushed oil and gas production sharing contractors to quickly bring their new fields into production, BPMIGAS chairman Rachmat Soedibjo was quoted as saying recently.

The oil and gas contractors include Unocal Indonesia with its West Seno field, Exspan Sumatra (Matra field), ConocoPhillips (Belanak field), Total E&P Indonesie (Tunu field), PetroChina (Ripah field), and Pertamina, PetroChina Java and ExxonMobil (Sukowati field), Rachmat told reporters.

The government and the parliament are deliberating the 2004 draft budget, which sets oil output target at 1.15 MBPD.

Meanwhile, Indonesia had set this year’s oil output target at 1.25 MBPD.

Rachmat said earlier that Indonesia’s oil production output had shown a declining trend from January to August of this year. (*)