RI may not be able to meet OPEC quota
Monday, January 29 2001 - 04:00 AM WIB
Indonesia may not be able to meet the 1.307 million barrel of crude oil per day quota set by OPEC, according to state-owned oil and gas company Pertamina's director for production sharing management Iin Arifin Takhyan.
Iin was quoted by the Kompas daily Monday as saying that data until January 17, 2001, Indonesia's crude oil production was only 1.156 million barrel per day plus condensate production of 154,200 bpd. He said that condensate was not included in the quota.
The OPEC quota will last until March 2001.
Iin said that Pertamina and its production-sharing contractors have been trying to develop new oil wells to meet the OPEC quota.
But Iin said that OPEC might decide to cut down its oil production by 1.5 million-2 million bpd at a meeting in March 2001, which would automatically also lower Indonesia's quota. He said that if OPEC agreed to lower production, Indonesia would be able to meet the new quota. (*)