Caltex hopes to start exploration drillings in Sumatra PSC next year
Monday, August 6 2001 - 02:18 PM WIB
Indonesia?s largest oil and gas operator PT Caltex Pacific Indonesia said Monday it planned to start exploration drillings in its newly acquired Kisaran production sharing contract (PSC) area in Central Sumatra next year.
?Currently we are doing 2D seismic reinterpretation and tendering 3D seismic works, and we hope to be able to drill two to three exploration well on the fourth quarter of next year,? CPI?s president Humayunbosha told reporters.
He also said that Caltex planned to spend some US$ 14 million for the block's first two year of exploration.
Caltex acquired the block in May this year.
Caltex hopes to find gas in the area to meet the increasing need of its steam generators for the company?s oil operations. (alex)