An Indonesian official has announced that US giant ConocoPhillips will invest around US$1.6 billi...
The field is the 13th such field operated by the American company. ConocoPhillips is developing Belanak under a PSC with the Indonesian government. According to Bambang Dwianto, a spokesperson for the Indonesian Mines & Energy Ministry, production at the field should begin soon.
"[Belanak] is expected to start producing crude oil in November. Output is expected to reach 10,000 barrels a day in the initial stages before rising to 60,000 b/d in 2007," said Bambang.
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