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Jakarta Post

Govt to activate aging fields under new regulation

  • Novia D.Rulistia

    The Jakarta Post

Jakarta   /   Sat, April 5 2008   /  12:44 am

To optimize the country's crude oil production, the government will activate 5,000 aging fields under the newly issued 2008 Minister Regulation, says an official. "There are more than 13,000 aging fields in the country, 5,000 of which could produce 5,000 to 12,000 barrels per day (bpd)," director general for oil and gas Luluk Sumiarso said Friday. The regulation was issued to help the country meet its crude oil lifting target after years of failure. Increased production is hoped to leverage the country's oil export capacity amid soaring oil prices. The government and the House of Representatives' budget committee agreed late last month to set the oil lifting target for this year at 927,000 barrel per day. Out of 13, 824 fields only 745 are active, Luluk said. Most of the aging fields are located in the working area of state-owned oil and gas firm P...