JAKARTA, 07 June 2005 - Indonesia's crude oil production fell to the lowest level in 34 years in May to 936,000 barrels per day (bpd), from 953,000 bpd a month earlier, due to repairs on several wells, an industry source said on Monday.

The source said Indonesia, Asia Pacific's only Opec member, would find it difficult to add production and would not achieve the output targeted in its budget this year due to ageing fields. He predicted that no new fields would come onstream this year. Indonesia targeted crude oil and condensate production at 1.125 million bpd in 2005.

"There is some technical work being done on several oil wells. Some of them were shut down. Crude production is 936,000 bpd," the source said. "Indonesia may be able to increase production in June if the work on several wells is concluded. However, crude production may stay at around 945,000 bpd this year," the source said, adding that several other wells might need maintenance, during which there could be production cuts.

Indonesia's condensate output, exempted from Opec quotas, rose to 121,700 bpd last month from 110,000 bpd in April, the source said. Another industry source said Caltex Pacific Indonesia, the country's biggest oil producer, pumped 477,000 bpd in May, compared with 470,000 in April.

  09 January 2009 · Batik design to become world heritage this year
  08 January 2009 · Papua earthquakes drive thousands into tent camps
  08 January 2009 · Central bank cuts rate by 50 basis point to 8.75%
  07 January 2009 · FPI holds warfare training and recruitment session for Gaza
  06 January 2009 · No embassy in Bandung, demonstration at German cultural institute
  06 January 2009 · One liter of petrol for 50.000 Rupiah in West Timor
  05 January 2009 · Two more aftershocks hit Manokwari
  04 January 2009 · Manokwari airport closed after quakes
  04 January 2009 · 7.8 magnitude quake hits near Manokwari, 25 aftershocks reported
  03 January 2009 · Indonesia to launch stimulus to boost economy