Pertamina sets aside $ 466 mm to develop oil and gas reserves

Jun 21, 2004 02:00 AM

Indonesia's state-owned oil company, Pertamina, said it had set aside Rp 4.2 tn ($ 466.6 mm) to finance the development of new oil and gas reserves.
Upstream Director of Pertamina, Bambang Nugroho, said the company would develop newly-found oil deposits in Pondok Tengah and Tegaltaman in West Java, estimated to have a total reserve of 250 mm barrels.

Pertamina will also develop new gas deposits in Randublatung in Central Java, Suban Barat in South Sumatra, Sukamaju and Maleoraja in Central Sulawesi with a total reserve of more than 2.5 tcf, Nugroho said.
Pertamina also had a number of oil fields not yet drilled in West Java, Central Java, East Java and Kalimantan.

Source: Asia Pulse
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