Santa Fe strikes oil

Sat, 21 Dec 1996, 00:00 WIB | Source: JP

JAKARTA (JP): Santa Fe Energy Resources of the United States
announced here yesterday it had discovered another oil reserve in
Jabung Block, part of its 7,000-square-kilometer concession in
South Sumatra.

"We're confident that we can exploit the oil field
commercially, despite the fact it still needs a further study to
find out the amount of the reserve," Santa Fe chief commissioner
James L. Payne said.

The company said this was its third oil find in Jabung block.
It plans to start drilling the other reserves next year.

Santa Fe and partners, Kerr McGee Sumatra and Amerada-Hess
Indonesia, signed a production sharing contract with the state
oil and gas company Pertamina in 1993 to explore oil in Jabung
block. (bnt)

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