5 PSCs tasked to raise crude export to meet quota increase
Thursday, July 20 2000 - 03:00 AM WIB
State oil and gas firm Pertamina has tasked five of its production sharing contractors (PSCs) to increase their crude output to meet the 37,000 barrels per day of crude export quota increase set out by the Organization of Petroleum Exporting Countries (OPEC).
The head of Pertamina's Exploration, Production and PSC Development, R.S. Triana Kartoatmodjo, said that the five PSCs are Exspan, Conoco, Unocal, Maxus and Santa Fe Jabung.
"We have summoned them one by one and they all have been committed to increasing their production to meet the quota," Triana said on Wednesday.
He said that Pertamina had asked all of its PSCs about the possible output increase a few days before Minister of Mines and Energy Susilo Bambang Yudhoyono went to Vienna to attend OPEC's extraordinary meeting that resulted in an increase of OPEC production by 500,000 barrels per day (bpd).
He said Pertamina selected the five PSCs because they were ready to boost their crude output in a short time by a range of 5,000 to 10,000 bpd.
With the commitment from the 5 PSCs, Indonesia would be able to meet the production increase by the end of this month or in August at the latest, Triana said.
With the increase in the quota, the total crude export quota for Indonesia now totals 1.317 million bpd.
Triana added that Indonesia will gradually increase its crude production level from 1.312 million bpd now to 1.4 million bpd in one-year time. (*)