Singapore's SPC posts $19.0 million H1 revenue from Kakap block
Thursday, July 31 2003 - 02:06 AM WIB
Singapore Petroleum Corporation Limited (SPC) reported Wednesday it had posted $19.0 million in revenues and $9.5 million in operating profit in the first half of 2003 from its participation interest in the Kakap production sharing contract (PSC) in West Natuna sea.
The figures were slightly up from last year?s corresponding period of $17.6 million in revenues and $9.1 million in operating profits.
The company said during the first half of this year oil and gas production from its 15 percent working interests in the Kakap PSC totaled 2,750 barrels of oil equivalent per day (BOEPD) with an averaged realization of US$32.00 per BOEPD in sales.
Kakap block is operated by ConocoPhillips.
SPC is a subsidiary of Singapore?s major company in the offshore, energy and engineering marine industry Keppel FELS Pte Ltd. (robert)