CNOOC reports Q3 Indonesian production
Friday, October 31 2003 - 10:11 AM WIB
China's largest offshore oil and gas company CNOOC Limited reported Friday its Indonesian net crude oil and liquids production had dropped by 15 percent to 40,653 barrels per day (BDP) in the third quarter of 2003 from 48,089 BPD in the same quarter last year, while its natural gas production increased by 7.8 percent to 103 million cubic feet per day (MMSCFD) from 96 MMSCFD, respectively.
CNOOC?s oil and gas production come from South East Sumatra production sharing contract (PSC) (65.34 percent and operatorship), Offshore Northwest Java PSC (36.72 percent), Malacca Strait PSC (39.51 percent) and Poleng technical assistance contract in East Java (50 percent). The company also holds 12.50 percent interest in Tangguh LNG project in Papua.
CNOOC is the largest offshore crude oil producer in Indonesia. Last year, the company?s Indonesian net production reached 346,639 barrels of oil equivalent per day. (robert)