Producers forecast decline in oil, natural gas production from Indonesia operations

PT Chevron Pacific Indonesia (CPI), already under government scrutiny for alleged violations of its cost recovery claims, has forecast that production from its concessions will decline due to aging fields and seasonal floods.CPI President Suwitom Anggoro, during a hearing with the House of Representatives’ budget committee, said the firm’s Duri and Minas concessions in Sumatra might produce just 405,000 b/d this year, down from the 408,000 b/d target set by the government and the 425,000 b/d produced in 2007.“The rainy season and potential flooding will probably exacerbate the decline,” said Anggoro, who predicted production eventually could drop to 382,000 b/d fro...

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