JAKARTA -- Indonesia is expected to increase its oil production to more than one million barrel per day in the next three years as some companies will start production by the end of this year, chairman of the upstream oil and gas regulator BP Migas Raden Priyono said here Wednesday.
The chairman told a press conference after a meeting with President Susilo Bambang Yudhoyono at the State Palace that 13 oilfields developed by 11 companies would begin production by the end of this year with initial production of 8,500 barrel per day. And "the production will peak to over 236,000 barrel per day in 2011," Priyono said.
Currently the country's oil production is 927,000 barrel per day. He said the production had started to rise, exceeding the figure.
Besides, the exploration by 16 companies had found 12 new oil fields which could be developed, said Priyono.
On the same occasion, energy minister Purnomo Yusgiantoro said the skyrocketing global oil prices had boosted exploration in Indonesia for the last four years.
One hundred and four companies had carried out the activity and25 others would do so this year, he said.
President Susilo expected oil production to rise in short and long terms, said Purnomo
Indonesia has been hit by the soaring global oil prices. The country increased oil prices by 28.7 percent in May as one of the efforts to avoid hefty subsidies in the sector.
The country has been net crude oil importer since 2003, although it is still a net energy exporter, thanks to a large amount of supply of natural gas and coal.
The chairman told a press conference after a meeting with President Susilo Bambang Yudhoyono at the State Palace that 13 oilfields developed by 11 companies would begin production by the end of this year with initial production of 8,500 barrel per day. And "the production will peak to over 236,000 barrel per day in 2011," Priyono said.
Currently the country's oil production is 927,000 barrel per day. He said the production had started to rise, exceeding the figure.
Besides, the exploration by 16 companies had found 12 new oil fields which could be developed, said Priyono.
On the same occasion, energy minister Purnomo Yusgiantoro said the skyrocketing global oil prices had boosted exploration in Indonesia for the last four years.
One hundred and four companies had carried out the activity and25 others would do so this year, he said.
President Susilo expected oil production to rise in short and long terms, said Purnomo
Indonesia has been hit by the soaring global oil prices. The country increased oil prices by 28.7 percent in May as one of the efforts to avoid hefty subsidies in the sector.
The country has been net crude oil importer since 2003, although it is still a net energy exporter, thanks to a large amount of supply of natural gas and coal.
