Conoco strikes oil in Natuna

JAKARTA (JP): Conoco Indonesia Inc., a subsidiary of Conoco Inc. of the United States, has struck oil in the offshore Natuna area bordering the South China Sea, state oil and gas company Pertamina said Wednesday.

Pertamina said in a statement that two exploration wells drilled in the Natuna Block B area had yielded a total output of 6,500 barrels of oil a day at depths of 5,300 feet (1,590 meters) and 8,300 feet (2,470 meters) respectively.

Conoco is the operator in the Natuna Block B for a consortium in which it holds a 40 percent stake, Inpex of Japan holds 35 percent and the U.S. oil company Texaco 25 percent. (jsk)