CNOOC announces E. Java oil, gas discovery

Chinese oil firm CNOOC Limited on Thursday announced wild cat oil dicovery Offshore West Madura, East Java.

KE7-3 is located in the offshore West Madura Production Sharing Contract area. The well, drilled by operator Kodeco Energy Co. Ltd., reached a depth of about 2,250 meters. During drill stem testing, it flowed at a rate of over 1,000 barrels of oil and condensate per day, plus approximately 10.5 million standard cubic feet of gas per day on a 48/64 inch choke.

The Company owns 25% interest in West Madura PSC and state oil and gas company PT. Pertamina is also a partner in the block.(alex)