YPF-Maxus ready to boost oil production
Wednesday, April 12 2000 - 04:00 AM WIB
YPF-Maxus, one of Pertamina's oil production sharing contractors, has expressed its readiness to increase its oil production to 155,000 barrels per day from 140,000 bph at present following the increase in Indonesia's oil production quota by 93,000 bph beginning this month, Media Indonesia reported on Wednesday.
"We are ready to boost our oil production by between 10,000 and 15,000 bph, if we are asked to do so," the company's vice president Sugiarto told the daily on Tuesday.
Indonesia has agreed to increase its oil production from 1.18 million bph to 1.28 million bph following the agreement of the Oil Petroleum Exporting Countries (OPEC) recently to increase its production quota to 24.6 million bph.
Sugiarta said YPF-Maxus, which operates several oil wells off North Jakarta, recently found a new gas oil with a capacity of 350 million cubic, still saw promising prospect in the oil and gas production on its oil fields.
He hoped the Indonesian government would continue the campaign to increase the use of gas as automotive fuel so that Indonesia would no longer rely on foreign markets on the sales of its massive gas reserves. (*)