Bloomberg News

Indonesia Crude, Condensate Production Climbs 1.6 Percent in May

June 01, 2012

Indonesia’s crude and condensate output rose 1.6 percent in May as some production facilities resumed operations.

Indonesia pumped an average 883,300 barrels a day of crude and condensate last month, up from 869,800 barrels in April, Rudi Rubiandini, deputy of operations at BPMigas, the nation’s oil and gas regulator, said in a phone text message today.

Output may reach 890,000 barrels a day in June and recover to 900,000 barrels daily in August as new wells start producing, Rubiandini said. Indonesia’s oil supply may average 904,000 barrels this year, he said.

There are 15 new oil and gas fields expected to start production in 2012, which will help stem a decline in the country’s production, BPMigas said Dec. 19. Indonesia, Southeast Asia’s largest crude producer, withdrew from the Organization of Petroleum Exporting Countries in 2008 because of reduced overseas shipments as output dropped.

To contact the reporter on this story: Fitri Wulandari in Jakarta at fwulandari@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus