Indonesia's Cepu block to triple oil output this year - minister

JAKARTA Wed May 21, 2014 12:17am EDT

Related Topics

JAKARTA May 21 (Reuters) - ExxonMobil Corp's Cepu oil block in Indonesia is expected to triple its production to 80,000 barrels per day (bpd) by the end of this year, the country's oil minister said on Wednesday.

Ramping up oil production from the Cepu block is vital to the government's efforts to slow fuel imports, which has pushed both the current account and fiscal balances into deficits.

The Cepu block, which currently produces 26,000-27,000 bpd, should hit peak production of around 165,000 bpd sometime next year, said Energy and Mineral Resources Minister Jero Wacik at an energy conference. (Reporting by Fergus Jensen and Wilda Asmarini; Editing by Muralikumar Anantharaman)

FILED UNDER: