Raden Priyono, chairman of upstream oil and gas regulator BP Migas, said the fields include the
The other three are the Gajah Baru-Iguana-Naga field in the Natuna Sea operated by
The government and parliament have set a target of 960,000 barrels a day of oil for 2009 as output from aging fields declines, and additional production is only expected to be around 5,336 barrels a day. The natural gas output target is 7.53 billion cubic feet a day for 2009.
The government is relying on the Cepu block, which is jointly operated by Pertamina and
The block started producing a limited amount of crude oil in early December, which is expected to rise to 20,000 barrels a day in June. The peak production of 165,000 barrels a day is expected to be achieved in 2012.
Analysts expect the current slump in oil prices and the global economic downturn will further undermine the government's efforts to boost crude output, as many oil companies are likely to defer their investment plans, especially for marginal fields.
Some 10-15 new oil and gas blocks are planned to be offered for tender this year.
-By Deden Sudrajat; Dow Jones Newswires; 62-21 39831277; I-Made.Sentana@ dowjones.com