"We have succeeded in 2001 with gaining additional oil reserves of around 43 million barrels. We have currently almost one billion barrels of oil reserves," said Pertamina's Upstream Deputy Director, Mr Eteng Salam.

Mr Eteng added the company is optimistic it will find more reserves in 2002 because of the potential in areas such as South Sumatra. Pertamina currently produces about 70,000 barrels of oil per day.

Indonesia, a nation of 180 million people, is the only Asian member of OPEC and produced 1.12 million bopd of crude and 140,000 barrels of oil equivalent of condensate in December of last year.