JAKARTA, June 11 (Xinhua) -- 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.