Foreign investors invited to tap Indonesia`s oil fields

Indonesia`s oil production reached its first peak in 1977, at approximately 1.6 million barrels per day, rising from 500,000 barrels per day in just 10 years. Production peaked a second time in 1995 to just over 1.6 million barrels a day.
Since 1995, production had steadily declined and in 2006 was down to just 1 million barrels per day, or roughly a 37.5 percent decline, making the country a net oil importer.
Natural gas has fared better, with production averaging approximately 8.3 billion cubic feet per day, down just 3.44 percent from its peak of 8.7 billion cubic feet per day in 1996.