LONDON (Indonesia Today) - Serica Energy Plc said
partners in the Glagah Kambuna Technical Assistance Contract (TAC)
offshore in North Sumatra to end its economic life in early 2013.
"The Kambuna field has commenced its natural decline and production
rates are falling in line with reservoir pressure depletion. The
partnership is reviewing areas where cost cutting can prolong the
economic life of the field but, under current projections, the field is
expected to reach the end of its economic life in early 2013," Serica
said yesterday.
"During this final phase, the timing of field handover to Pertamina and hence the remaining volume of reserves to be produced, are dependent both upon commercial considerations and termination arrangements," Serica continued.
During the third quarter the field produced at an average rate of 14.3 mmscfd (Q3 2011: 36.4 mmscfd) with approximately 836 bpd of condensate (Q3 2011: 2,342 bpd).
Average prices realised during the quarter for gas and condensate sales respectively were US$6.56 per mcf (Q3 2011: US$6.1 per mcf) and US$108.1 per barrel (Q3 2011: US$116.9 per barrel). The highest price achieved during 2012 is US$130 per barrel, achieved in March. (Indonesia Today)
"During this final phase, the timing of field handover to Pertamina and hence the remaining volume of reserves to be produced, are dependent both upon commercial considerations and termination arrangements," Serica continued.
During the third quarter the field produced at an average rate of 14.3 mmscfd (Q3 2011: 36.4 mmscfd) with approximately 836 bpd of condensate (Q3 2011: 2,342 bpd).
Average prices realised during the quarter for gas and condensate sales respectively were US$6.56 per mcf (Q3 2011: US$6.1 per mcf) and US$108.1 per barrel (Q3 2011: US$116.9 per barrel). The highest price achieved during 2012 is US$130 per barrel, achieved in March. (Indonesia Today)
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