ConocoPhillips reports higher Indonesian output in Q4 2005
Thursday, January 26 2006 - 01:39 PM WIB
US oil major ConocoPhillips reported Thursday its Indonesian net crude oil and condensate production reached 13,000 barrels per day (BPD) in the fourth quarter of 2005, up from the previous quarter of 10,000 BPD, while natural gas output increased to 330 million cubic feet per day (MMCFD) from 303 MMCFD, respectively.
The company also reported that during the quarter, average realized crude and condensate price declined to US$47.00 per barrel compared to $61.77 in the previous quarter. Average realized natural gas price also dropped to $6.23 per MCF from $6.73.
ConocoPhillips is the largest foreign leaseholder in Indonesia with 13 exploration production licenses, concentrated in two producing core areas: the West Natuna Sea and South Sumatra. (Robert)