ConocoPhillips reports higher Indonesian crude, gas production
Thursday, April 28 2005 - 03:19 AM WIB
US oil firm ConocoPhilips reported on Wednesday that its first quarter 2005 net Indonesian crude and gas production increased significantly to 21,000 barrels per day (BPD) and 273 million standard cubic feet per day (MMCFD), from 15,000 BDP and 248 MMCFD in the previous year?s corresponding quarter.
The company also reported that during the quarter, average realized crude and condensate price improved to US$46.51 per barrel compared to $32.21 in the previous year?s corresponding quarter, while average realized natural gas price increased to $5.08 per MMCF from $4.38 per MMCF in the previous year.
ConocoPhillips operates several producing oil and gas blocks in Sumatra, supplying natural gas to Indonesia's top crude producer Caltex pacific Indonesia and to Singapore and Malaysia through pipeline. (alex)