Chevron Pasific Indonesia, a subsidiary of U.S.-based oil and gas giant Chevron Corporation, has started oil production in a new oil block of North Duri 12 at Riau province in Sumatra, Indonesia, the firm said on Wednesday.
The new production started as Indonesia is struggling to boost oil production amid the weakening of oil output due to aging wells and lack of investment. The firm produced over 1,000 barrels per day and was predicted to reach 34,000 barrels a day in 2012, it said.
Indonesian Mines and Energy Resources Purnomo Yusgiantoro inaugurate the official opening of the production on Wednesday in the province.
Chevron Pacific Indonesia currently produces 408,000 barrels of crude oil a day, about a half of Indonesia's total production.
Rising Indonesian economic activities lead to a rise of demand of energy, particularly oil. Oil production has declined to below 1 million barrel a day since February, making Indonesia a net oil importer.
Source: Xinhua
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