Bass reports higher oil output at Tangai Sukananti field

By Romel S. Gurky

ASX-listed Indonesian oil producer, Bass Oil Limited said oil production at Tangai Sukananti field in South Sumatra Province was higher in July compared to June.  

The company said in a statement that oil production in July was 23,400 barrels of oil JV share or 12,870 barrels of oil Bass share.  In comparison, June production stood at 18,968 barrels of oil joint venture share, or 10,432 barrels net to Bass.

Bass said July oil sales totaled 23,622 barrels of oil JV Share or 12,992 barrels Bass share. Monthly average oil production for July was 755 bopd the second highest rate on record.

The average monthly realized oil price for July was $61.26 compared with a monthly average oil price of$61.01 per barrel recorded in June. The fields continue to generate positive cash contributions to the business with field operating costs at $20 per barrel.

Elsewhere, Bass said a well service rig was mobilized to site to carry out the Bunian 1 and Tangai 1 pump repairs. Both wells were returned to production. As a result, production for the month averaged 755 bopd during July, the second highest average daily rate on record.

The team in Indonesia has sourced and contracted workover rig to perform the remaining well work which includes the Tangai 3 pump repair, the Bunian 4 workover and the Tangai 4 conversion to water injector. This work will commence in early September, Bass said.

Bass Oil holds 55 percent interest in the Tangai-Sukananti Joint Operating Body (JOB) and acting as the operator of the field. The field currently produces at over 700 bopd (100 percent JV share).

Editing by Reiner Simanjuntak