CNOOC sees crude production to decline in 2008
Wednesday, November 14 2007 - 07:03 AM WIB
Chinese oil firm CNOOC Ltd predicts on Wednesday that average crude production from its Indonesian operations would decline to 48,000-49,000 BPD in 2008 from 55,000 BPD currently.
CNOOC Indonesia VP Relations & GA Soegiarto Moechammad told parliamentary hearing that the decline was due to reserves depletion at its South East Sumatra block.
CNOOC Ltd holds 65.5 percent interest in SES PSC. The PSC partners include Japan's INPEX Sumatra Ltd, KNOC Sumatra Ltd, Orchard Energy Sumatra BV, Fortuna Resources (Sunda) Ltd, Talisman UK (Southeast Sumatra) Ltd and Talisman Resources (Bahamas) Ltd. (bernard)