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.