REPUBLIKA.CO.ID, PEKANBARU - Chevron Pacific Indonesia (CPI) plans to invest 816.4 million USD this year in Indonesia, or bigger than last year's investment. However, the value is lower compared to its work plan and budget (WP&B).

On its report to the Ministry of Energy and Mineral Resources, CPI stated that it was committed to the development plan in Indonesia, as seen from its investment. "CPI increases its investment to 37 percent from 2012," President Director of CPI, A Hamid Batubara, said during the launching of Surfaktan injection project on Minas field on Monday.

The investment will be allocated to drill 572 well in CPI's working regions, such as Duri 13. The investment is also expected to reach the oil and gas production target of 329,200 barrel per day.

In 2012, CPI invested in Indonesia valued at 541 million USD with the target of 348,700 barrel per day. With declining production in several fields, CPI refused to have a high target.

National oil production declines 12 percent per year. This year investment is below the target cited in WP&B Chevron in Temporary Working Unit of Upstream Oil and Gas Activities (SK Migas). SK Migas expects Chevron to invest up to 916.4 million USD with the production of 334,500 barrel oil and gas per day. Vice Minister of Energy and Mineral Resources, Rudi Rubiandini, supported CPI's investment, saying that Chevron's oil production is significant.

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