Amerada completes well appraisal

JAKARTA: New York-based Amerada Hess, which holds the production-sharing contract for the Pangkah oil and gas block off East Java, said on Wednesday it had completed its appraisal program for two wells in the Ujung Pangkah field.

Results of the appraisal will be analyzed to determine the possible increase in oil and gas reserves and to assess the feasibility of further development of the Ujung Pangkah reservoir, the company said in a statement.

Furthermore, the findings would enable Amerada to build on Pangkah's core development, a key part of the company's business portfolio in Indonesia. -- JP