Oil production in Riau (Indonesia) down by 10 percent annually

PT Caltex Pacific Indonesia, the country’s largest oil producer situated in Riau province, is facing a sharp decrease in production by around 10 percent annually due to the reducing oil reserves in its aging wells.

The company’s president director, Wahyudi Yudiana Ardiwinata, said Caltex was struggling to maintain its production level.

“It is not possible for us to increase production. But we can try to keep the decrease at between 3 percent and 5 percent,” he said on Friday after awarding scholarships to high school students in the city.

At present, Caltex produces 500,000 to 520,000 barrels per day (bpd) of crude oil from its wells across Riau province.

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