Petroz, Santos find RI gas

Petroz, Santos find RI gas

MELBOURNE (Dow Jones): Australian oil and gas company Petroz NL. Thursday said it has discovered a new pool of natural gas in the Segat gas field in central Sumatra, Indonesia.

The Segat-3 exploration well encountered the gas 545 meters underground, and initial tests flowed gas at a maximum rate of 10.43 million cubic feet a day, Petroz said in a statement.

Thorough testing of the well will continue for another four days.

The Segat field production sharing contract is a joint venture between Petroz with 39 percent and fellow Australian oil and gas company, Santos Ltd. with 61 percent.