ConocoPhillips Q3 Indonesian gas production up
Thursday, October 30 2003 - 01:23 AM WIB
In its quarterly report, the company said average realized natural gas price during the quarter was US$4.35 per MCF, compared to $4.16 in the previous quarter.
ConocoPhillips sells natural gas from its gas blocks in Southern part of Sumatra and Natuna Sea to Malaysia, Singapore and to Indonesian top oil producer PT. Caltex Pacific Indonesia.
The company said that in the same period, crude oil and condensate production decreased slightly to 16,000 barrels per day (BPD) from 17,000 BPD in the previous quarter. Average realized crude and condensate price during the quarter was $26.32 per barrel versus $24.54 in the previous quarter.
ConocoPhillips is the largest foreign leaseholder in Indonesia with 14 exploration and production licenses. The company has recently sold its working interest in Kakap production sharing contract offshore West Natuna to local firm Star Energy. (robert)