Indonesia to Increase Oil Production: President Susilo
Posted on: Saturday, 29 October 2005, 09:00 CDT
Indonesia to increase oil production: President Susilo
JAKARTA, Oct. 28 (Xinhua) -- Indonesian President Susilo Bambang Yudhoyono on Friday expressed hope that Indonesia's oil production can rise from 1.07 million to 1.3 million barrels per day in the next three or four years.
"This would give a great contribution to the state's revenue," he was quoted by the Antara news agency as saying when dedicating 13 oil and gas projects in Jambi province on Sumatra island.
The effort to increase oil production is one of the five government's policies in overcoming the energy crisis, he said.
The four other policies had to do with energy diversification, energy conservation, law enforcement in fuel oil activities and the adoption of an appropriate subsidy policy.
He said the 13 new projects would be able to add 70,000 barrels of oil per day to the national output.
In the next two or three years, the Cepu block in Central Java was expected to produce 200,000 barrels of oil per day, while an oil field in South Madura in the next two-four years would be able to produce between 75,000 and 100,000 barrels of oil per day.
"Hopefully, in the next three to four years, the country's oil production will go up by about 350,000 barrels per day," the president said.
Source: Xinhua News Agency - CEIS
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