Oil production at Bula oilfield returns to normal after strike
Tuesday, December 21 2004 - 12:46 AM WIB
Australian oil firm Lion Eenergy Limited said on Tuesday that production at its Bula oil field in Seram island, Maluku, returned to normal after the company settled dispute with workers.
On Thursday, December 16, 2004, as a result of ongoing negotiation with long-term contract personnel, the claimant initiated strike action in pursuit of their demands, resulting in production stoppage.
The Bula field produces 415 barrels of oil per day.
According to the company, it had reached agreement with some 100 workers on Monday, December 20 on settlement of termination package.
Lion Energy Ltd. had agreed to sell its 100 percent working interest in Bula PSC, together with drilling rig and heavy equipment to a company called PT.Ilham Treda Industry for US$ 4,350,000. (alex)