HOUSTON (yOSEFARDI) – ConocoPhillips produced 319 MBOED in firts-quarter 2014, in line with the first quarter of 2013, for Asia Pacific and Middle East regions.
New wells online in China and Indonesia, as well as positive production sharing contract (PSC) impacts, were offset by planned downtime at Qatargas 3 and normal field decline.
Production from continuing operations, excluding Libya, for the first quarter of 2014 was 1,530 MBOED, an increase of 24 MBOED compared with the same period a year ago.
The company continues to grow its deepwater position and was the apparent high bidder on five blocks in the March central area lease sale in the Gulf of Mexico, as well as Block AD-10 in Myanmar. Two wells were drilled in Alaska and the company is currently evaluating results.
Seismic activities are ongoing in the Palangkaraya PSC in Indonesia and appraisal programs are underway at Barossa and the Browse Basin in Australia.