Bass Oil Ltd (ASX:BAS) managing director Tino Guglielmo speaks to Proactive Investors about the oil company’s Tangau Sukananti joint venture operation in Indonesia’s South Sumatra region.
“We’re a 55% participant in this joint venture … [and] last month in fact we had record production levels at the joint venture level of nearly 900 barrels of oil a day,” Guglielmo says.
He continues, “we were able to identify, without drilling, a number of production optimisation opportunities which could take production [up] from 300 or 400 barrels a day.
“This property, that was only supposed to generate cashflow … is actually the first step on our growth journey in Indonesia.”
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