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)
Copyright 2017 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Most Popular Articles
From the Career Center
Jobs that may interest you