EEX?s E. Java crude production slightly down in Q2 2001

Houston based oil and gas firm EEX Corporation said Friday that during the second quarter of this year, crude production from Mudi field in Tuban joint operating body (JOB) area of East Java averaged 11,500 barrel per day, from which EEX nets 50 percent or roughly 5,700 bpd.

The figure was slightly lower than previous quarter?s average production of 12,300 bpd or 6,150 bpd EEX?s net production.

According to the company, an exploratory well at Sukowati is in progress and results are expected within the next few weeks.

Tuban is 25 percent owned by EEX in partnership with Devon Energy and state oil and gas company Pertamina with 25 percent and 50 percent, respectively.

Pertamina however will only receive its oil shares in the block until EEX and Devon fully receive returns of their investment in the block.

Sukawati is located about five and a half miles southwest of the Mudi field and lies on trend with a recent significant discovery announced by ExxonMobil Oil Indonesia Inc. which operates the Cepu technical assistance contract (TAC) block offsetting the Tuban block.

Earlier, a Pertamina official estimated crude reserve in Sukowati could reach up to 400 million barrels. (alex)