Indonesia wants Santos to fast-track Jeruk
Monday, August 01, 2005
KEEN to ramp up its petroleum production and justify its continued membership in OPEC, Indonesia is urging Santos to speed up development at the giant Jeruk oil and gas field, which is expected to produce 150,000bpd of oil. Santos operates and has a 50% interest in Jeruk.
Indonesia's declining oil production means it can no longer meet its OPEC quota, and for several months of last year it became a net importer of oil. The country's crude oil and condensate production currently stands at about 1.056 million barrels per day (bpd), lower than the target of 1.125 million bpd assumed by the government.
The government is hoping to significantly boost the country's oil output through speeding up development of large fields such as Exxon Mobil-operated Cepu and Jeruk.
indonesia pushing 4 jeruk
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