Remember me | Forgot password
For full content view: Log in Now!
High oil demand across the globe is depleting existing fields and forcing producers to expand field development programs. Producers are feeling the strain, and occasionally one must leave the Organization of Petroleum Exporting Countries (OPEC). This is Indonesia’s situation. According to Energy Minister Purnomo Yusgiantoro, Indonesia will quit OPEC at the end of 2008, due to declining production. It is producing less than 1 million bopd and has had difficulty getting oil company investment to develop new fields. Other countries have experienced this change: Ecuador left OPEC 1992, followed by Gabon in 1994; however, Ecuador rejoined in 2007.
While Indonesia leaves OPEC, another country is considering joining. Brazil’s discoveries and production expansion are the reasons. Petrobras claims that discoveries at Bem-te-vi, Carioca, Jupiter and Tupi Fields bring its reserves up to 11.7 million bbl, giving the state-controlled company the fourth largest oil reserves.
This area of the site is restricted.
In order to gain access, please either Log
In, or subscribe to World Oil.
Two options are available to you for creating an account.
1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.
Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.
2. Purchase a subscription to World Oil magazine and gain immediate
and complete access to World Oil Online. As a Total Access subscriber
you will have access to all areas of the site available to registered users and
free subscribers as well as having access to such premium content areas as:
Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.
If you are already a paid subscriber and do not have access, please email CustomerService@worldoil.com.
World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.
Orlando, FL - May 21-24
Noordwijk - June 5-7
San Antonio, TX - June 6-6
All material subject to strictly enforced copyright laws.
© 2013 World Oil. © 2013 Gulf Publishing Company.