Novus says production in Malacca Strait PSC and Lematang PSC relatively stagnant in Q2 2001

Australian listed oil and gas company Novus Petroleum Limited said Thursday net crude production for Novus in Malacca Strait production sharing contract (PSC) in Central Sumatra during the second quarter of this year averaged 3,625 barrels of oil per day (bod), slightly lower than previous quarter?s net production of 3,881 bpd.

Novus said during the quarter one development oil was drilled and completed as an oil producer.

Novus has 26.03 percent working interest in Malacca Strait PSC, while Kondur Petroleum (operator), CNOOC and Malacca Petroleum hold 34.46 percent, 32.58 percent and 6.93 percent, respectively.

Meanwhile, Novus also said that its net production at the Harimau field in Lematang PSC in South Sumatra during the second quarter averaged 21 bpd of condensate and 0.5 million standard cubic feet per day of gas (mmcfd), compared to 21 bpd of condensate and 0.6 mmcfd of gas during the previous quarter.

Novus has 15 percent working interest in Lematang PSC, while Amerada Hess (operator), Energy Equity and Coparex BV hold 50 percent, 20 percent and 15 percent, respectively. (alex)