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JAKARTA, Oct 9 (Reuters) PT Chevron Pacific Indonesia, the local unit of U.S. Chevron Corp , said it plans to set aside $1 billion to maintain the productivity of its block in Riau over the next three to four years, the Kompas newspaper reported on Monday.

Kompas said Chevron, the largest oil producer in Indonesia with a daily output of 500,000 barrels, would try to keep the rate of decline in its oil production under eight percent.

Indonesia, Asia's only member of the Organization of the Petroleum Exporting Countries, has been facing declining production at its decades-old fields, many dropping by five percent or more a year. The country has been a net crude importer at various times in recent years.

Indonesia's crude output rose slightly to 862,000 barrels per day (bpd) in September from 860,500 bpd a month earlier, helped by steady production at several wells.

REUTERS DKS RAI0720