ConocoPhillips reports higher Indonesian gas output in Q3

U.S. oil major ConocoPhillips reported on Wednesday its Indonesian natural gas output had increased to 342 million cubic feet per day (MMCFD) in the third quarter of 2006 from 303 MMCFD in the previous quarter, while crude oil and condensate production declined to 11,000 barrels per day (BPD) from the previous quarter's 14,000 BPD.

The company also reported that during the third quarter of the year, average realized natural gas price dropped to US$6.71 per MCF from $7.53 in the previous quarter. Meanwhile, average realized crude and condensate price increased to $62.69 per barrel compared to $58.15 in the previous quarter.

ConocoPhillips is the largest foreign leaseholder in Indonesia, concentrating in two producing core areas: the West Natuna Sea and South Sumatra. (Robert)