JAKARTA (rambuenergy.com) – Australian listed oil and gas company Cue Energy said well interventions program at Oyong Field within Sampang PSC, offshore East Java, is scheduled to be completed in August this year with the completion of Oyong-7 well.
“The workovers are expected to improve Oyong oil and gas production and extend field life until 2018,” Cue Energy said.
Sampang PSC is operated by Santos (Sampang) Pty Ltd, a subsidiary of Australia’s oil and gas company Santos. Cue Energy is a non-operating partner in the block with 15 percent working interest.
The Oyong average oil production rate for the quarter was 1250 bopd (gross) and the daily gas average rate was 23.60 mmcf (gross) (Cue net: 161 bopd and 2.93 mmcf – both net of government take under the PSC).
Gas output from the field is delivered via pipeline to onshore East Java.
During the quarter Cue’s share of oil sales receipts was A$2.39 million from the sale of 19,805 barrels and gas sales receipts was A$0.968 million from the sale of 275,639 Mcf. Cue’s share of condensate sales from the Oyong field was 13 barrels which generated A$570 in revenue.
A significant gas price increase has been negotiated with the existing buyer with effect from 1 July 2015, it said.
During the quarter Cue’s share of gas sales receipts from the Wortel Field within Sampang PSC, was A$3.0 million from the sale of 347,115 Mcf.
Cue’s share of condensate sales from the Wortel field was 17 barrels which generated A$785 in revenue.
Wortel-3 and Wortel-4 flowed gas at a combined average daily rate of 36.54 mmcf (gross) during the quarter (Cue net 5.07 mmcf net of government take under the PSC.)
The installation of compression at the Grati gas plant should be completed in July 2015 which will ensure that the Wortel project will continue to meet its gas sales contract volumes. (*)