Genting discovers gas in Irian Jaya

Genting discovers gas in Irian Jaya

KUALA LUMPUR (Reuter): Malaysian casino operator Genting Bhd
said yesterday that its wholly-owned subsidiary, Cairns Ltd, has
made a gas discovery in its Muturi concession in north west Irian
Jaya, Indonesia.

Cairns holds a 45 percent stake in the concession, while
British Gas Exploration and Production, a unit of British Gas
Plc, controls 50 percent. The balance 5 percent is held by
Indonesia's PT Saptapetra Wisesa.

The Muturi block is held under a 1992 production sharing
contract with Indonesian oil company Pertamina, Genting said in a
statement.

It covers an area of about 6,750 square km in the Kepala
Burung region, some 2,500 km east of Indonesian capital Jakarta.

Cumulative gas flows of 40 million cubic feet per day on a one
inch choke were recorded at the Mogoi Deep-1 well located in the
north west of the concession.

"This is the first well drilled by Genting and its partners in
this concession. An aggressive follow-up program of exploration
and appraisal work is being considered to establish the size of
this discovery," the statement said.

In a separate development, Genting said another wholly-owned
subsidiary, Roundhay Ltd, has executed a production sharing
contract for an offshore exploration concession with the Myanma
Oil and Gas Enterprise to explore for hydrocarbons in Myanmar.

The Mottama M4 concession covers an area 10,381 square km.