Indonesia seen unlikely to meet oil output target

02/13/2006
Indonesia is unlikely to raise its planned output to 1.3 million b/d of crude oil by 2009 due to the lack of exploration and development, according to Cyril Noerhadi, finance director of Indonesian oil and gas company PT Medco Energi Internasional.Noerhadi said the government’s projected output target of crude oil could be achieved only from discoveries and improvement to production from existing fields.He said significant recent discoveries include only wells on the Cepu Block in Centra Java and Jeruk Block in Madura and require development.Part of the wait for production, he noted, involves resolution of a dispute between state-run PT Pertamina and ExxonMobil Corp. over operatorsh...
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