Monday, July 27, 2009

Santos oil production drops 46%

Santos, Australia, reported 46% drop of crude oil production in its Indonesian operation for the first half 2009. 
Santos reported to Australia Stock Exchange (ASX) last week that Indonesian oil output reached 303,900 barrels in H1 2008, dropped 46% from 566,100 barrels in the same period last year. Santos reported significant drop in second quarter 2009 to 127,100 barrels against 268,900 barrels in Q2 2008.
Crude oil production in Q2 was 28% lower when compared to Q1 2009 due to natural field decline and the sale of Kakap PSC. 
But sales gas production of 7.1 PJ in Q2 2009 was 16% higher than Q2 2008 due to higher Maleo gas offtakes. 

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