PetroChina? production in Indonesia up 175% in 2003

PetroChina Company Limited reported Friday that its Indonesian oil and gas production jumped by 175 percent to 7.53 million barrels of oil equivalent (MMBOE) last year from 4.27 MMBOE in 2002.

PetroChina said in a statement that its projects in Indonesia have been proceeding smoothly. ?Moreover, new oil reserves have been discovered in the project area, giving promising development prospects.?

In July 2002, PetroChina acquired all US independent oil and gas company Devon Energy Corporation?s upstream assets in Indonesia including Tuban Block, Jabung Block, South Jambi B Block, Bangko Block, Salawati Basin and Salawati Island Blocks. (robert)