ConocoPhillips Indonesian liquids, gas production down

US oil, gas firm ConocoPhillips on Wednesday reported Indonesian first quarter 2004 crude and condensate net production of 10,000 barrels per day, lower than previous quarter’s production of 15,000 BPD. The company also reported lower gas production of 248 million standard cubic feet per day (MMCFD) versus 275 MMCFD in the previous quarter.

The company did not reveal the cause of production decline.

During the quarter, average Indonesian liquid price reached US$32.21 per barrel versus $26.52 per barrel in the previous quarter, while average gas price stood at $4.38 per MCF versus $4.21.

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 some other Indonesian E&P assets.

ConocoPhillips sells its natural gas production through pipeline to ChevronTexaco’s Caltex Pacific Indonesia in Central Sumatra, 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 2007. (alex)