PA Resources 1Q Oil Output Falls On Year, Retains 2009 Targets
April 16 2009 - 11:07AM
Dow Jones News
Swedish oil company PA Resources AB (PAR.OS) Thursday said its
first quarter production fell sharply on the year to 783,000
barrels of oil equivalent after it sold its Norwegian operations,
and maintained its 2009 daily output target of 11,000-14,000
barrels a day.
In the first quarter 2008, the company produced 1.09 million
BOE, which included output from the Norwegian unit it divested at
the end of December 2008.
"This has temporarily reduced the group's total production and
sale of oil until the Azurite field in the Republic of Congo starts
its production in the summer of 2009," PA Resources said in a
statement.
The company noted the quarter's output was also weighed on by a
14 day partial or full outage at the Didon field in Tunisia for the
planned installation of a drilling rig at the platform.
A new producer well called D10 was spudded on the Didon field
during the period, it said.
Company Web site: http://www.paresources.se
-By Elizabeth Adams, Dow Jones Newswires; +44 (0) 20 7842 9386;
elizabeth.adams@dowjones.com