Petronas keeps output flat

Petronas keeps output flat

KUALA LUMPUR (Reuters): Malaysia's state oil firm Petronas plans to keep domestic oil output at 610,000 barrels per day in 2000, but has an eye on an overseas project to secure output for the future, its chief executive said on Tuesday.

Petronas President and Chief Executive Hassan Marican said the company was keen to participate in a $3.5 billion oil development in Chad that aims to pump 900 million barrels of oil over a 15-to-20 year period.

"We are interested but I cannot comment at the moment. It is in the finalization stage," he told reporters at a product launch.

Asked about Petronas's production level this year, Hassan said: "We will maintain production level about 610,000 barrels per day with about 80,000 barrels (equivalent) of gas."

He said he was watching the outcome of the OPEC meeting in Vienna, which is expected to raise output around 1.5 million bpd.

"Although Malaysia is not part of that, we do take into consideration the decisions made," he said.