Selmo flows boost Incremental
Australia’s Incremental Petroleum reported record oil sales revenues in the
fourth quarter of last year as annual production from its Selmo field in
Turkey surpassed 500,000 barrels.
Incremental reported net production of 116,487 barrels from Selmo in the
fourth quarter, or an average of 1266 barrels per day, compared with 127,481
barrels, or 1371 bpd, in the same period in 2006. Soaring oil prices boosted
revenues to record levels, the company said.
The company also said its Erdine gas project joint venture, also in Turkey,
had identified drilling targets for its 2008 drilling programme. It said the
Erdine joint venture expected to bring production from expected discoveries
this year, as well as finds in its 2006-2007 drilling season, on line by
early next year.
A 3D seismic survey of roughly 30% of the Erdine concession suggested
prospective reserves of 10 billion to 20 billion cubic feet.
Incremental said it had been appointed operator of the Erskine project, in
which it holds a 45% stake.
21 January 2008 06:00 GMT
| last updated:
21 January 2008 06:00 GMT
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