Lundin Indonesian oil production reaches 240,407 barrels in Sept ? Dec 2002
Sunday, March 2 2003 - 06:37 AM WIB
Swedish independent oil and gas company Lundin Petroleum AB said Saturday during September ? December 2002, oil production from its participation in Salawati Basin production sharing contract (PSC) and Salawati joint operation body (JOB) in Papua province had reached 240,407 barrels or 2,334 barrels per day (for 103 days).
The company said oil sales had amounted to SEK 70.8 million or around US$7.83 million at the average price of $ 27.23 per barrel.
Lundin holds 25.0 percent and 13.89 percent working interest in Salawati Basin PSC and Salawati JOB, respectively.
The company acquired the blocks from French?s Coparex International S.A in September 2002 together with Blora PSC (C. Java; 40 percent; operator), Banyumas PSC (C. Java; 50 percent; operator), South Sokang PSC (Natuna; 10 percent), Sareba PSC (Papua; 100 percent; operator), and Lematang PSC (S. Sumatra; 15 percent). (robert)