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Indonesia to increase oil production next year
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21:18, September 10, 2008

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The Indonesian government and House of Representatives have agreed to raise the country's oil production level to around 960,000 barrels per day, according to local media on Wednesday.

"The projected production level would be met by applying an exploration and refinery method that were more effective," the national Antara news agency quoted Indonesian lawmaker Harry AzharAziz as saying.

"The method is meant to minimize the declining rate," he added.

The number is higher than the government's suggestion of 950,000 barrels per day including a swapping volume of 50,000 barrels.

He said that the production slim down, 1.8 percent lower than the 2008 level, was to allow early production predictions.

The government previously assumed a 6.3 percent economic growth with a 6.5 percent inflation rate, while the House of Representative have assumed a 6.4 percent growth in the economy and a 6.2 percent inflation rate next year.

Source:Xinhua



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