Fri, 24 Nov 2000

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)