PA Resources Posts '08 Tunisia, Norway Production Results


Tunisia
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This report summarizes PA Resources Group production and sales of crude oil and gas in Tunisia and Norway during fourth quarter 2008.

Total Production

Total oil and gas production in the Group during Q4 2008 was 1,491,200 BOE.

Crude Oil

  • Average oil production per day during Q4 2008: 16,200 barrels per day
  • Accumulated oil production Full Year 2008: 5,153,700 barrels
  • Total oil production during Q4 2008: 1,491,200 barrels
  • Oil sales during Q4 2008: 1,620,800 barrels
  • Here of export sales 1,313,300 barrels
  • Here of local sales 307,500 barrels
  • Average sales price during Q4 2008: US $53.87 per barrel

Gas

  • Total gas production during Q4 2008: 0 BOE
  • Average gas sales price during Q4 2008: US $0 per BOE

Comments
The Didon field in Tunisia has for the month of December maintained good regularity and production both with respect to wells and facilities.

Similar, the Volve field in Norway has maintained as good performance during the month with production from two production wells.

In the period, production of oil came from seven fields in two geographical areas; Tunisia and Norway. PA Resources has finalized the sale of its Norwegian subsidiary, as earlier communicated. This will temporarily reduce the Group’s total production and sale of oil during the coming months until the Azurite field in the Republic of Congo has started its production in 2009.

 

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Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours