World’s largest oil company, Exxon, set target of maximum oil production in Cepu Blok 165,000 barrels a day in 2014.
Now, oil production in Cepu Blok only reached 20,000 barrels a day. To achieve the above target, some actions have been taken, amongst others, construction of facilities to support increase of production.
“We are making preparations for arrangement of tender in order to achieve the target”, Maman Budiman, Exxon’s spokesperson, told Business News via the phone.
Exxon Mobil and Pertamina own 45 percent, respectively, of shares in Cepu Blok located on
Increase of production was expected to support increase of
Coordinating Minister of Economy, Hatta rajasa, stated that the government set oil lifting target to one million barrels a day next year amid expectation of increase of investment this year to around USD16 billions.