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ExxonMobil increases production at new Indonesia oilfield
(MENAFN) ExxonMobil has started ramping up production at a new Indonesian oilfield, targeting a peak output of 200,000 bpd this year that will add to an already-oversupplied market, Gulf Times reported.
Output from the Banyu Urip field is crucial to Indonesia's long-term efforts to meet rising domestic demand as production declines at ageing fields in the former OPEC member.
The field will help Indonesia meet a target of producing some 830,000 bpd this year, up from output of just below 800,000 bpd in 2014. These figures are half the country's peak output in the mid-1990s.
"We continue to see strong capacity results and will continue to ramp up production until we reach peak field production of 200,000 bpd in 2015," vice president of ExxonMobil Indonesia said.
Output from the Banyu Urip field is crucial to Indonesia's long-term efforts to meet rising domestic demand as production declines at ageing fields in the former OPEC member.
The field will help Indonesia meet a target of producing some 830,000 bpd this year, up from output of just below 800,000 bpd in 2014. These figures are half the country's peak output in the mid-1990s.
"We continue to see strong capacity results and will continue to ramp up production until we reach peak field production of 200,000 bpd in 2015," vice president of ExxonMobil Indonesia said.
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