Gas found in Timor Sea<\/p>\n
TOKYO (Dow Jones): Tokyo-based Indonesia Petroleum Ltd. has
\ndiscovered natural gas in an area of the Timor Sea belonging to
\nIndonesia, company sources said Thursday, according to the Nihon
\nKeizai Shimbun's Friday morning edition.<\/p>\n
The company has confirmed the field is capable of producing 25
\nmillion cubic feet of natural gas daily (equivalent to 4,300
\nbarrels of crude oil) and also 260 barrels per day of condensate
\n(a natural volatile oil) at a field 800km east of Kupang, West
\nTimor. This is the first ever discovery of natural gas in the
\nIndonesian part of the Timor Sea.<\/p>\n
Indonesia Petroleum will decide whether to proceed with
\ncommercial production after evaluating the gas discovered, making
\nfurther test drilling and rechecking on the gas deposits there.<\/p>\n
The company acquired concessions for the field from Pertamina,
\nthe Indonesian state-owned oil and gas company, in November 1998.<\/p>\n
The firm is also exploring the possibility of gas exploitation
\nin an area of the Timor Sea belonging to Australia, the sources
\nadded.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/gas-found-in-timor-sea-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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