SINGAPORE (Yosefardi) – KrisEnergy Ltd., an independent upstream oil and gas company, reported a 41% decline in production volumes to 1,979 boepd in 3Q 2013, from 3,363 boepd in the same 2012 period due partly to the anticipated closure of the Kambuna gas-condensate field, which ceased production on 11 July 2013.
The company expects to relinquish its working interest in the Glagah-Kambuna TAC, which contains the Kambuna field, by the end of 2013 or in the first quarter of 2014.
Once approvals are received for the G6/48 farm-in transaction and the TBL acquisition, KrisEnergy’s portfolio will comprise 16 contract areas, eight of which will be operated by the company, in five countries.