Novus Q1 oil output up, gas down in Indonesia
Monday, April 30 2001 - 07:30 AM WIB
Australian oil and gas company Novus Petroleum announced on Monday an increase in its Indonesian oil output to 641,000 barrels in the first quarter of the year, from the 596,000 barrels in the previous quarter.
However, the company's first quarter gas output dropped to 499 million cubic feet (MMCF) from 745 MMCF in the previous quarter, the company said in a statement made available to Petromindo.Com
The decrease in its Indonesian total gas output was due to lower production at the Wunut field of the Brantas production sharing contract (PSC) block in East Java following a decrease in the purchase orders in the province.
The company increased its gas output at Wunut in the previous quarter to cover the shortfalls in gas supplies from the Pagerungan fields owned by Anglo-American energy firm Beyond Petroleum, which experienced troubles due to a fire incident. But, BP has reportedly resumed normal operation.
"Average sales from the Wunut gas fields for the quarter were 3.7 MMCFD (Novus net), down from 7 MMCFD the previous quarter.
"Production in the prior quarter was higher as Brantas covered shortfalls in supply caused by fire at BP's Pagerungan facility," the company said.
Novus owns 50 percent of Brantas in a partnership with Lapindo Brantas, which owns the remaining 50 percent shares and operates the block.
The company noted however that its Indonesian gas production for the second quarter of the year was expected to increase following the commencement of gas production at the Kakap PSC in the West Natuna area in the South China Sea. The company has a 25 percent stake in the Kakap PSC in the partnership with Gulf Resources, Premier Oil, Burlington and Pertamina.
It said Kakap started sending gas to Singapore March at the rate of 5.3 MMCFD and the supply rate was expected to increase to 45 MMCFD.
"Production volumes have increased during April due to Kakap gas sales, and have positioned Novus for a strong first half result," the company said.
Novus's net oil output at Kakap increased to 3,217 barrels per day (bpd) in the first quarter, from 2,978 bpd in the previous quarter.
Novus also has 15 percent shares in the Lematang PSC in the partnership with Amerada Hess; 26.3 percent shares in the Malacca Straits in the partnership with Kondur Petroleum and CNOOC.
Novus's net output at Lematang averaged 21 bpd of condensate and 0.6 MMCFD of gas in the first quarter, compared with 23 bpd of condensate and 06 MMCFD of gas in the previous quarter.
Company net oil output at Malacca Straits increased to 3,881 bpd in the quarter, from 3,561 bpd in the previous quarter. (Bodega)