ConocoPhillips Indonesian liquids, gas production down
Thursday, July 29 2004 - 12:34 AM WIB
US oil major ConocoPhillips reported Wednesday that its net Indonesian crude oil and condensate production declined to 14,000 barrels per day (BPD) in the second quarter of 2004 from 15,000 BPD in the previous quarter, while natural gas production down to 246 million cubic feet per day (MMCFD) from 248 MMCFD.
The company also reported that during the quarter, average realized crude and condensate price improved to US$36.20 per barrel compared to $32.21 in the previous quarter. Meanwhile, average realized natural gas price was $4.28 per MCF versus $4.38.
ConocoPhillips is the largest foreign leaseholder in Indonesia with 11 exploration and production licenses. Currently, the company produces four percent of Indonesian oil and eight percent of Indonesian natural gas resources. (Robert)