Kalrez produced 48,635 barrels of oil at Bulla in Q1
Monday, April 30 2001 - 05:00 AM WIB
Australian oil and gas firm Kalrez Petroleum announced recently a total oil output of 48,635 barrels at the Bula field in Maluku for the third quarter period running from January to March 2001, as against 56,081 barrels in the corresponding period of the year.
"The Bula oil field operated profitably during the quarter and continues to do so," the company said in a statement made available to Petromindo.Com.
Bula, located in the Seram production-sharing contract (PSC) on the Seram island, Maluku, is wholly owned by Kalrez, which bought out the fields from Australian firm Santos in 1999.
The company said it shipped 51,022 barrels of oil in January this year at the price of US$21.83 per barrel and planned to ship another 47,755 barrels in April.
It said it would proceed with its plan of drilling 25 new oil wells and working over 50 existing oil wells. (Bodega)