Pertamina finds oil and gas reserve in Irian Jaya

Jul 27, 2001 02:00 AM

State owned oil and gas company Pertamina announced that it had discovered an oil and gas reserve on Salawati Island in Irian Jaya. "The reserve contains 7 mm barrels of oil and 17 bn cf of gas," Pertamina said, adding that it had concluded drilling at the Salawati O-1 (SLO-1) well on July 2.

The layer test of the well discharged 583 bpd of oil and 8.5 mm cfpd of gas. Pertamina will continue tests at the SLO-2 well over the next two months. The cost of drilling amounted to $ 2.1 mm, 49 % lower than the allocated expenditure budget.

Source: The Jakarta Post
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