Mobil ups Indonesia reserve estimate<\/p>\n
FAIRFAX, Virginia (Reuters): Mobil Corp. said yesterday that
\nreserve estimates at its Greater Merah Besar field, offshore East
\nKalimantan, had been increased to 190 million barrels of oil
\nafter drilling two new exploration wells.<\/p>\n
Hitam Besar-2 and Hijau Besar-3 confirmed the presence of
\nsignificant oil and natural gas potential in the deepwater area
\nof the Mahakam Delta which is covered by the Makassar Strait
\nProduction Sharing Contract, Mobil said in a statement.<\/p>\n
Mobil said that a second rig has been brought in which will
\ncontinue to appraise the Greater Merah Besar structure and
\ndrilling for production could start as early as 2001.<\/p>\n
\"We are very encouraged by our early exploration success
\noffshore East Kalimantan and several additional prospects have
\nbeen identified on the Makassar acreage, some potentially larger
\nthan Merah Besar. Our plans are to drill these prospects while
\nappraising the Merah Besar field,\" Mobil said.<\/p>\n
Mobil has 50 percent working interest and Unocal Corp., the
\noperator of the block, the remainder.<\/p>\n
Mobil also has an agreement with Unocal for a 30 percent
\ninterest in the Rapak block which is located to the north of and
\nadjacent to the Makassar Strait PSC.<\/p>\n
Mobil said that Rapak represents additional prospective
\nacreage in the same hydrocarbon bearing trend as the Makassar
\nblock and presents further opportunities for growth.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/mobil-ups-indonesia-reserve-estimate-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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