ConocoPhillips Q2 Indonesian liquids production down, gas up

US oil major ConocoPhillips recorded decrease in Indonesian liquids production in the second quarter of the year and increase in natural gas production, the company?s quarterly report said.

ConocoPhillips? liquids production was down to 17,000 barrels per day (BPD) in the second quarter, compared to 21,000 BPD in the first quarter, while natural gas production increased to 246 MMCFD in the second quarter, compared to 224 MMCFD in the fisrt quarter.

Average liquids realized price was down to US$24.54 per barrel in the second quarter from $29.35 per barrel in the first. Natural gas average realized price was also down to $4.16 per MCF, compared to $ 4.66 per MCF in the previous quarter.

ConocoPhillips sells its gas to Singapore, Malaysia and Singapore from its gas fields in South Sumatra and West Natuna. The company also supplies natural gas to Indonesian largest oil producer Caltex Pacific Indonesia in Riau province.

The company had also recently bagged 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.

ConocoPhillips is currently in the process of streamlining its Indonesian holding by selling several non-key oil, gas blocks. (alex)