Maxus delays 20% oil output<\/p>\n
SINGAPORE (Dow Jones): To help meet Indonesia's pledge to cut
\ncrude oil production by 100,000 barrels a day, Maxus Southeast
\nSumatra Inc has delayed indefinitely a potential 20 percent
\nincrease in its gross production to 180,000 barrels per day
\n(bpd), a Jakarta-based company official told Dow Jones Newswires
\nyesterday.<\/p>\n
Drilling of existing fields and application of new technology
\nhelped the company to raise oil production of its Widuri and
\nCinta crudes in April to a combined 150,000 bpd, from its 1997
\naverage of about 140,000 bpd, according to the official, who
\nasked not to be named.<\/p>\n
The company will not utilize its full production capacity of
\n180,000 bpd to support the Organization of Petroleum Exporting
\nCountries' plan to cut output 2.6 million bpd in the second half
\nof the year, the official said.<\/p>\n
Based on a recent 15 percent increase in recoverable reserves,
\nMaxus can maintain 150,000 bpd of production for three or four
\nyears, he said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/maxus-delays-20-oil-output-1447893297",
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"sponsor": "Okusi Associates",
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