Oil production falls by 24,000 bpd in February

Indonesia?s average oil production dropped by 24,000 barrels per day (bpd) in the first week of February to 930,000 bpd from 954,000 bpd in 2010, Metronews reported on Saturday.

BPMIGAS deputy chairman Rizal Asir said in Batam on Friday that the fall was caused by bad weather such as frequent rains taking place in many parts of oil producing areas during the month.

In addition, the leak in the pipeline used to supply gas to Chevron Pacific Indonesia?s oil fields in Riau had also caused a decline in the oil production in the country?s largest oil producer. He said Chevron?s oil production fell by about 6,000 bpd due to the decline in gas supply which is used in enhanced oil recovery activities.

He is, however, upbeat that oil production would be able to meet the target of 970,000 bpd this year, despite the drop in February. (*)