JAKARTA, June 26 (Reuters) - Indonesia energy minister
on Thursday said an additional 30,000 barrels oil per day (bpd)
have been produced at the Exxon Mobil ( XOM )-operated Cepu block, as
the country strives to counter declining national oil output.
Indonesia targeted oil lifting stands at 605,000 bpd this
year, but figures for January-May showed production at 567,900
bpd, with 2024 levels slightly higher at 579,700 bpd.
"Previously Cepu's lifting was at 150,000 bpd, so our total
lifting from Cepu will be 180,000 bpd or in other words 25% of
total national lifting," energy minister Bahlil Lahadalia said
during a livestreamed ceremony marking the production increase.
The Banyu Urip project, operated by Exxon in partnership
with state energy company Pertamina, has the potential to
produce 1 billion barrels of oil, the energy ministry previously
said.
The Indonesian government is keen to reverse the declining
production trend and is targeting an increase in lifting to one
million barrels of oil and 12 billion standard cubic feet per
day of gas by 2030.