ConocoPhillips? Indonesian gas production up, liquids down in 2003

American energy giant ConocoPhillips reported Wednesday its Indonesian natural gas production increased by 35 percent to 255 million cubic feet per day (MMCFD) in 2003 from the previous year?s production of of 189 MMCFD.

In its fourth quarter report, ConocoPhillips said average gas price during 2003 was US$4.33 per MCF, higher than US$3.89 per MCF the previous year.

Meanwhile, the company also said that its crude and condensate production declined to 16,000 barrels per day (BPD) in 2003 from 21,000 BPD in 2002, while average price for this product climbed to US$26.88 per barrel from US$23.51 per barrel, respectively.

ConocoPhillips Indonesian crown assets are South Natuna block B giant gas block offshore West Natuna and Corridor Block onshore South Sumatra. The company also controls more than a dozen other Indonesian E&P assets.

ConocoPillips was forced to stop gas delivery from Block B to Singapore for several weeks late last year due to leakage in pipeline system.

ConocoPhillips exports its natural gas production through pipeline to Malaysia and Singapore. The company has also secured billion dollars contract to supply gas from its South Sumatra gas fields to Singapore and to West Java, with first delivery expected around 2006 and 2007.

The company is reportedly in the process of disposing its Indonesian holding by selling several non-key oil, gas blocks. In 2003, ConocoPhillips sold its working interests in Kakap block offshore West Natuna and in Sebuku block offshore South Makassar Strait.

Last March, the company announced that delineation well, the Suban-8, at its Suban field of Corridor block had confirmed a maximum flow rate of 35 MMCFD of gas and 163 BPD of condensate.(robert)