Exspan finds gas, oil

Exspan finds gas, oil

JAKARTA (JP): Oil and gas company PT Exspan Nusantara and its
state-owned counterpart Pertamina have discovered a large gas
reserve of about 5 trillion cubic feet (TCF) in Luwuk Banggal
Regency, Central Sulawesi.

Pertamina said in a media statement on Wednesday that the two
companies had also found oil reserves in South Sumatra.

The statement said that the Central Sulawesi gas reserves were
located by a joint operation between the two companies, PT Exspan
Tomori Sulawesi, after it completed drilling on July 6 in the
Senoro 2 well.

The joint operating body discovered gas reserves of some 20
MCF of gas and 435 barrel of condensate per day.

Elsewhere, the statement said that the oil reserve was
discovered on July 12 after drilling the Matra 2 well in the
South Sumatra Extension block that has a capacity of 1,100
barrels of oil per day.

The discovery, which was the second success after previous
drilling in November last year, would be followed with the next
Matra 3 well, the statement said.

"Exspan will propose to Pertamina a plan to develop the Matra
and the Senoro fields," it said.(05)