Serica reports reduced production from Kambuna field
Saturday, May 12 2012 - 03:59 AM WIB
UK independent oil, gas firm Serica Energy reported on Friday that Kambuna gas field in Glagah-Kambuna TAC offshore North Sumatra produced 16 mmcfd of gas and 1,000 bpd of condensate during the first quarter of 2011.
In 2011, the field produced 34 mmscfd of gas and 2,400 bpd of condensate.
The company said gas was sold at average price of US$6.4 per mcf and condensate fetched $125.0 per barrel during the quarter. Gas from Kambuna field is sold to power station owned by state electricity firm PT PLN (Persero)
The Kambuna field has commenced its natural decline and production rates are expected to fall in line with reservoir pressure depletion. Compression facilities to arrest this production decline were successfully installed in February 2012, the company said.
As a result of debottlenecking and the installation of compression facilities the field is expected to produce at a rate of 20 mmcfd, with commensurate levels of condensate production, until the fourth quarter 2012.
Serica has a 25 percent working interest at Glagah Kambuna TAC. Serica is planning to sell its entire interest in the block as it is no longer considered to be core to its forward strategy.
Editing by David Mustakim