Bass Oil achieves record oil production at Indonesia field

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Bass Oil (ASX: BAS) has announced that it produced a record monthly oil production of 27,795 barrels of oil JV share, or 15,287 barrels Bass share, from its Indonesian Tangai-Sukananti KSO during the month of October.

This represents an average daily rate of 896 barrels of oil per day, a 7% increase over the previous Joint Venture production record of 26,077 bbls set in October 2015 and a 63% increase over September 2018 production levels of 17,081 barrels of oil Joint Venture share.

Bass has a 55% interest in the Joint Venture and said a successful ongoing production optimisation program along with completion of a three well scale remediation program has led to the field producing at full capacity for the past month, realising company expectations.

The field is currently producing at a rate of approximately 850 barrels of oil per day.

Bass managing director Mr Tino Guglielmo said: “This production result is a credit to the efforts of Jakarta based and field based teams. It validates our view that the Tangai-Sukananti asset is an excellent foundation asset from which to build our Indonesian business.”

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