ConocoPhillips reports higher Indonesian crude, gas production
Thursday, July 28 2005 - 02:03 AM WIB
US oil firm ConocoPhilips reported on Wednesday that its second quarter 2005 net Indonesian crude and gas production increased to 16,000 barrels per day (BPD) and 287 million standard cubic feet per day (MMCFD), from 14,000 BDP and 237 MMCFD in the previous year?s corresponding quarter.
However, the company?s Indonesian crude and liquids net production was down compared to previous quarter?s 21,000 BPD.
The company also reported that during the quarter, average realized crude and condensate price improved to US$47.57 per barrel compared to $36.20 in the previous year?s corresponding quarter, while average realized natural gas price increased to $5.96 per MCF from $4.28 per MCF 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)