Schlumberger seeks more oil

Schlumberger seeks more oil

JAKARTA (JP): French-based oil and gas service company PT
Schlumberger Indonesia said it was discussing with state oil and
gas company Pertamina ways to raise Indonesia's oil recovery
factor.

Schlumberger president Carlos Calad said both companies were
discussing about using the right technology to drill more oil out
of existing oil fields.

About 65 percent of the oil found in any oil reserve remains
hidden underground, Calad said.

Oil companies, he said, needed to invest heavily in new
technology that would allow them to drill more oil.

Pertamina has said most of the country's oil fields were
marginal oil fields, where companies' capability to extract oil
had thinned out.

Calad was speaking on the sidelines of a two-day reservoir
optimization conference, which Schlumberger held in conjunction
with its 70th anniversary in Indonesia.

Schlumberger provides services and technology to help the
operation of oil companies.(bkm)