RI oil output to decline to 1.15 MBPD next year
Thursday, July 31 2003 - 03:20 AM WIB
Indonesia's oil output next year is projected to decline to 1.15 million barrels per day (BPD) in 2004 from an estimated 1.25 million BPD this year, according to Minister of Energy and Mineral Resources Purnomo Yusgiantoro.
He said that the 2004 figure would be used as an assumption in next year's state budget, which is still being drafted by the government.
He explained that the lower oil output was mainly linked to "nature factor." He did not elaborate.
Indonesia's oil production has started to decline since the past two years.(Godang)