Total field production at on-shore Tangai-Sukananti in Sumatra for May was 18,500 barrels of oil (JV share) or 10,175 barrels of oil (net to Bass), a 9% improvement on production for April, and another strong performance subsequent to the completion of field optimisation works earlier in the year.
May oil sales equalled 17,000 barrels of oil (100% JV share) or 9,350 barrels (net to Bass). Oil was at an average realised price of $70.51 (A$93.67) per barrel, a 7.5% increase on the prior month.
Bass has begun the detailed planning and approvals process for the 2018 drilling program scheduled to start in December this year. The scope of the program includes the drilling of up to two development wells, at Bunian 5 and Tangai 5.
Bass recently announced a step-up in its growth strategy in Indonesia with the appointment of a project acquisition specialist. Dr Simon Brealey, an experienced petroleum geologist, has been appointed to the New Ventures role.
Bass continues to evaluate several potential onshore Indonesian acquisition targets, particularly those closest to its existing oil production infrastructure, as the company looks to add additional prospective oil properties to its portfolio during 2018.