Novus sees increasing Indonesian gas production

Australian oil, gas company Novus Petroleum Limited said on Tuesday second quarter average gas production from its East Java Brantas PSC increased to 45 MMCFD, compared with 40.6 MMCFD in the previous quarter due to strong demand.

The company expected future gas production to continue to increase after Brantas PSC signed agreement with state gas distribution company PGN to supply up to 80 MMCFD until 2008.

Novus said current drilling programme in Brantas PSC had been concluded with the completion of Wunut-4 and Wunut-5 development well. The company said further development drilling programme on Wunut and expansion of existing facilities is expected to commence ?near term? with capital spending of around US$ 8 million.

Novus has 50 percent working interest in Brantas PSC, with local company Lapindo Brantas Inc., as operator and 50 percent interest holder.

Meanwhile, Novus also reported that during the second quarter of 2003 average oil and gas production from Kakap PSC offshore West Natuna slightly decreased to 8,940 BPD and 54.4 MMCFD from 8,980 BPD and 58 MMCFD in the previous quarter.

Novus has 25 percent working interest in ConocoPhillips-operted Kakap PSC block.(alex)