Kalrez?s Bula oilfield produces 47,300 barrels in Q2
Thursday, July 31 2003 - 01:55 PM WIB
Australian listed oil company Kalrez Energy Ltd said Thursday that during the April-June quarter crude production from its Bula oilfield in Maluku province had reached 47,300 barrels of 23 API crude oil.
Kalrez said production in the quarter was managed at an average of 520 barrels per day.
Bula oilfield is a part of Bula production sharing contract (PSC) on Seram Island. Production from the field commenced as early as 1896 and continues today from some 85 wells.
Kalrez also said that around 40,083 barrels were lifted during June with a selling price of US$24.76 per barrel, resulting in gross revenue of US$992,455.
Kalrez is operator of the field with 100 percent of working interest in Bula PSC. (robert)