Petronas finds oil in Java

Petronas finds oil in Java

KUALA LUMPUR (AFP): Malaysian oil company Petronas Tuesday
said an initial test for oil in an area off the coast of
Indonesia's East Java had yielded positive results.

"An initial test at the Bukit Tua-1 discovery well in the
Ketapang Production Sharing Contract (PSC) area offshore East
Java, Indonesia has yielded encouraging results," Petroliam
Nasional Bhd (Petronas) said in a statement.

A test carried out between the depths of 6,466 (2,155 metres)
and 6,488 feet found that oil flowed at a stabilized rate of
approximately 2,800 barrels a day through a one-inch choke, the
statement added.

"Further testing on the well is currently underway," it said.

After the completion of the testing program on this well, two
additional wells will be drilled in the Ketapang PSC area over
the next two months.

Petronas holds a 50 percent interest in the PSC area. Gulf
Indonesia Resources Ltd., which owns the remaining 50 percent,
operates the block.