osiel oil flowing
KALREZ ENERGY LIMITED 2003-02-06 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ Kalrez Energy Limited is a 2.5% shareholder in the Seram Joint Venture that operates the Oseil oilfield. The major shareholder, and Operator of the JV, is KUFPEC (Indonesia) Limited with 97.5%.
Production from the Oseil oilfield commenced on December 30th 2002, with processing taking place through a Temporary Production System ("TPS") nominally rated to approximately 12,000 barrels per day throughput.
The TPS facility is a temporary process facility to be utilized until the permanent facilities currently being installed are completed. Current expectations are that the permanent facilities will be available during April 2003.
REPORTING PERIOD From midnight To midnight 26/01/2003 02/02/2003
Oil produced for the period 50,592 barrels of oil Average daily production for the period 7,227 barrels of oil Cumulative Oil produced 250,316 barrels of oil Oil sold during the period 0 barrels of oil Oil in stock 250,316 barrels of oil
The above represent total production from the Oseil oilfeld as reported by the Operator. Kalrez entitlement is 2.5% of this production after deducting operating costs and Indonesian government entitlements.
COMMENTS
All three wells, Oseil #1, Oseil #2 and Oseil #4 are on production.
Steam heaters arrived on location 3rd February 2003 and are presently being connected into the TPS process system to assist in combating foam induced process problems and to aid water separation (emulsion breakdown).
At 22:30 hours on 2 nd February 2003 loading of the tanker Shanghai was completed and at 02:00 hours on the 3rd February 2003, the loading hose was disconnected and the vessel departed, signifying completion of the first consignment of crude oil from the Oseil oilfield. The consignment of 250,316 barrels represents 241,299 barrels corrected to 60 degrees Fahrenheit.
BEGINS SECOND LIFTING
By 16:00 hours 3rd February 2003, the tanker Swallow was berthed and the loading hose connected ready for receiving crude oil.
Current operations are that production has recommenced and the Swallow is being loaded with Oseil crude oil.
For further information please contact:-
Mr Russell Brimage Or Mr Giuseppe (Joe) Mercorella Jakarta Office Adelaide Office Ph: 0011 6221 7696977 Mobile: 0403680570 Fax: 0011 6221 7697012 Ph: 08-82391344 Email: [email protected] Fax: 08-82391744
Mr Eddie Smith Email: [email protected] Perth Office Ph: 08-93629330 Fax: 08-93629331
A copy of the Background Information is available in PDF format on www.asx.com.au. Alternatively it is available for purchase from ASX Customer Service on 1 300 300 279.
