Conoco finds oil and gas

Conoco finds oil and gas

JAKARTA (JP): Conoco Indonesia, a subsidiary of the American
oil and gas company Conoco Inc., has found a significant oil and
gas reserve at the Blok B field off the island of Natuna in the
South China Sea.

The state oil and gas company Pertamina said in a statement on
Monday the Belut Utara # 3 exploration well flowed 2,480 barrels
of oil and 38 million cubic feet of gas per day.

The Belut Utara #3 well was the fifth of 10 wells drilled by
the company this year at the Belut Utara structure which covers
8.9 million square meters.

The well is located about 10 kilometers southwest of the Belut
Utara #1 well drilled in 1974.

The statement said the gas find would be used for a new gas
contract and is unrelated to the 20-year gas purchase contract
signed by Conoco, and two partner companies, with Singaporean
firm Sembawang Gas (SembGas). (jsk)