Cooper more than doubles production
Thursday, July 25 2013 - 03:49 AM WIB
ASX-listed energy firm Cooper Energy Limited announced on Thursday that its share of production from the Sukananti KSO in the second quarter of the year was 9,321 barrels, compared to 4,228 barrels in the previous quarter.
The increase is due to the commencement of production from Tangai-1 well in June after a successful workover. Storage limitations at the location mean that a stabilized production rate from the field is yet to be established, it said in a filing.
Exploration and development activity in Indonesia during the June quarter consisted of reprocessing and remapping of the Sukananti KSO 3D seismic survey and the workover of the Tangai-1 well which recommenced oil production in June after having been suspended since 1996.
As advised previously, and consistent with corporate strategy, Cooper Energy will be seeking to finalize farmout agreements for the Sumbagsel PSC and Merangin III PSC permits.
Cooper Energy is the operator of the Sukananti KSO with a 55 percent interest.
Editing by Dadan Wijaksana