Malaysia's Petronas finds oil in East Java

Published March 27th, 2001 - 02:00 GMT

Malaysian oil company Petronas Tuesday said an initial test for oil in an area off the coast of Indonesia's East Java had yielded positive results. 

 

"An initial test at the Bukit Tua-1 discovery well in the Ketapang Production Sharing Contract (PSC) area offshore East Java, Indonesia has yielded encouraging results," Petroliam Nasional Bhd (Petronas) said in a statement. 

 

A test carried out between the depths of 6,466 (2,155 metres) and 6,488 feet found that oil flowed at a stabilised rate of approximately 2,800 barrels a day through a one-inch choke, the statement added. 

 

"Further testing on the well is currently underway," it said. After the completion of the testing programme on this well, two additional wells will be drilled in the Ketapang PSC area over the next two months. 

 

Petronas holds a 50 percent interest in the PSC area. Gulf Indonesia Resources Ltd., which owns the remaining 50 percent, operates the block. 

 

In addition to the Ketapang PSC area, Petronas also has a 50 percent stake in the Pasemah PSC block in South Sumatra, in partnership with PT Exspan Pasemah.—AFP. 

©--Agence France Presse 2001. 

 

© 2001 Mena Report (www.menareport.com)

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