Amerada Hess Indonesian crude production up in Q1 2003
Wednesday, April 30 2003 - 03:59 AM WIB
US oil and gas company Amerada Hess on Wednesday reported its Indonesian net crude production had reached 4,000 barrels per day (BPD) during the first quarter of 2003, up from the previous quarter of 3,000 BPD.
Howevver, the figure of this quarter was sharply down compared to last year?s corresponding quarter production of 6,000 BPD when the company operated the Lematang production sharing contract (PSC) in South Sumatra. The company farmed out from the block in October 2002.
Recently, Amerada had also sold its 30-percent interest in Jabung PSC to Petronas and PetroChina for a total cash of US$164 million.
The remaining Amerada?s assets in Indonesia are the Pangkah PSC in East Java (40 percent and operator), the Jambi-Merang joint operating body (JOB) onshore South Sumatra (25 percent), and Tanjung Aru exploration block in Makassar Strait (50 percent and operator).(robert)