Kufpec, Kalrez to commence crude production sale in November

Australian publicly listed oil company Kalrez Energy Limited said on Friday it had concluded well completion on Oseil-4 and Oseil-1 in Oseil field during the first half of this year.

Karles said the rates during recent production testing are Oseil-1 (8,250 barrels of oil per day), Oseil-2 sidetrack (9,432 BOPD), and Oseil-4 (4,900 BOPD).

Its joint venture Kufpec (Indonesia) Limited had recently advised of their current intent to produce the unprocessed Oseil crude oil for sale commencing early to mid November 2002, Kalres said in a statement to Australian Stock Exchange.

?The commencing will be through a temporary production facility until such stage as the Main Production Facility (MPF) becomes available for production facility,? added Kalrez.

Oseil field is located in Seram Block PSC in Maluku province. The Block is operated and 97.5 percent owned by Kuwait Foreign Petroleum Exploration Company (Kufpec), while Kalrez holds the remaining 2.5 percent.

Kalrez further said it had loaded 50,131 barrels on 11 September from its Bula Block for sale to the state oil company Pertamina.

Bula Block is also located in Seram, and Kalrez is the operator and 100 percent participant in the block. (robert)