ConocoPhillips records increase in Q1 Indonesian oil, gas production
Thursday, May 1 2003 - 01:18 AM WIB
US oil giant ConocoPhillips reported on Wednesday during the first quarter of 2003, its Indonesian unit produced 224 million standard cubic feet per day (MMCFD) of natural gas and 21,000 barrels per day of crude oil and condensate, higher than previous quarter gas and liquids production of 220 MMCFD and 13,000 BPD.
The company said average gas price during the quarter was US$ 4.66 per MCF, higher than previous quarter?s average price of $4.11. Average liquid price was $29.35 versus $30.59 in the previous quarters.
ConocoPhillips sells its gas to oil contractor Caltex Pacific Indonesia in Riau, to Malaysia and Singapore from its gas blocks in West Natuna and South Sumatra. (alex)