Cue: SSP is on target to achieve gas only production in Q3

By Romel S. Gurky

ASX-listed Cue Energy Resources Ltd said that the Sampang Sustainability Project (SSP) is on target to achieve gas only production from Oyong Sampang PSC, in Madura Strait, East Java, during the third quarter (Q3) of this year.

The company said in a statement last week that this is expected to extend the life of the Oyong and Wortel fields in the Sampang PSC by at least two years to 2020 or beyond.

Cue said the Oyong and Wortel fields continue steady production, with total combined average gross rates of 61 mmcf and 850 barrels of oil per day (bopd) during the first quarter.

The Sampang PSC is composed of two producing fields: Oyong oil and gas field and Wortel gas field. The Jeruk oil discovery is still to be developed.

Cue owns 15 percent interest in the Sampang PSC, Santos Ltd 45 percent as the operator, and the remaining 40 percent held by Singapore Petroleum Company.

Editing by Reiner Simanjuntak