Sunday, January 31, 2010

Tanjung Miring Timur oil output drops 14%

Interra Resources, a company controlled by Indonesian businessman Edwin Soeryadjaya, reported gross production of oil at Tanjung Miring Timur of 38,068 barrels in the fourth quarter of 2009, declined 14% from the previous quarter due to mechanical difficulties in the lifting equipment.
"Mechanical difficulties in the lifting equipment resulted in significant down time. Oil movement and transportation equipment problems were experienced by the operator during the quarter," Interra said in a statement. 
A reassessment of the current production activities and plans, and an evaluation of the scope of future development strategy 
are underway bInterra internally. Interra owns 70% of the technical assistance contract (TAC) with state-owned oil and gas company Pertamina.
Interra also owns 50% participating interest in three oil and gas blocks in Thailand and one block it acquired in Australia last November. It also operates YNG 3234 oil block in Myanmar.

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