Indonesia oil output to rise to 870,000 bpd in 2014-SKKMigas head
JAKARTA, July 5
JAKARTA, July 5 (Reuters) - Indonesia's oil output is expected to rise to 870,000 barrels per day in 2014, up about 30,000 bpd from this year's target, the head of the country's energy regulator said on Friday.
If Exxon Mobil's Cepu block starts producing by October, next year's production could rise further to 900,000 bpd, SKKMigas Chairman Rudi Rubiandini told reporters.
The former OPEC member was once self-sufficient in oil and gas but has been struggling for years to attract investment to halt declining output.
Southeast Asia's largest economy has often missed annual oil production targets, which have gradually fallen from a peak of around 1.6 million bpd in 1995.
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Probe: Athletes took fake classes at University of North Carolina
- Canada's Harper pledges tougher security laws after attack |
- Man arrested after jumping White House fence, causing lockdown
- Some U.S. hospitals weigh withholding care to Ebola patients