Cooper Energy?s production drops
Monday, July 30 2012 - 01:08 PM WIB
Australia-listed energy company Cooper Energy said that its Indonesian oil entitlement for the June 2012 quarter was 3,295 barrels, according to a company quarterly presentation.
The production, which came from Sukananti Block (known as the Sukananti KSO) onshore South Sumatra, represented a 48 percent decrease from the March 2012 quarter due to operational issues which have now been rectified. It did not elaborate on the operational issues.
Cooper has identified opportunities for further increasing the production and reserves within the block. Interpretation of recent 3D seismic in the Sukananti KSO has been completed and the results are being evaluated. This work is expected to lead to the drilling of one well during 2013. Cooper has a 55 percent interest in the block.
Meanwhile, it said that preparations for the acquisition of 600 km of 2D seismic in the Sumbagsel PSC commenced, Discussions are also underway with parties interested to farm-in to the Sumbagsel PSC held 100 percent by Cooper.
Editing by Dadan Wijaksana