Lundin?s Q2 Indonesian liquids production down

Swedish oil and gas exploration and production company Lundin Petroleum AB reported on Tuesday that its Indonesian net production slightly dropped to 201,198 barrels of oil equivalent (BOE) in the second quarter of 2004 from 205,417 BOE in the previous quarter, while sales increased to 166,728 BOE from 158,955 BOE, respectively.

?Production from Salawati is slightly below expectations. We are now starting to see the benefits of the recent seismic acquisition with three exploration drilling successes on separates structures during the first half of 2004,? Lundin said in its quarterly report.

According to the report, an exploration and development drilling program is continuing.

The report also said realized price for sales in Indonesia for the second quarter was US$33.20 per BOE, an improvement from $28.74 per BOE in the previous quarter.

Lundin?s liquids productions come from its participating interest in Salawati Basin production sharing contract (25.9 percent) and Salawati Island join operating body (14.4 percent), which are located in Papua Province. Both blocks are operated by PetroChina. (Robert)