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)