Bumi Resources prepares drilling works

PT Bumi Resources is preparing the drilling works of the F oil well, part of its major exploration plan on six oil wells in its R-2 oil block in Yemen, the company?s director Eddy J. Soebari said in Jakarta on Thursday.

Eddy said that the drilling activities at the F well would be carried out immediately following the completion of similar activities at the Daw?an-2 well.

He said that workers were constructing a 110-kilometer road to remove all the drilling equipment from the Daw?an-2 well. ?Works will include an examination of seismic survey, drilling and exploration before taking a production test,? he added.

Eddy said that the company had allocated about US$16 million in new investment to finance the development of the R-2 block. About $11 million of the investment funds are already available, he added.

He said that the company had also allocated about $4.4 million to develop the Sambi Doyong oil block in West Java. The oil block is expected to start commercial production in 2002 with a production level of 3,000 barrels per day.

Bumi Resources expects the production level will reach 7,000 bpd in 2004. (*)