ConocoPhillips hits another dry hole in East Indonesia

US oil, gas company ConocoPhillips hits another dry hole at its East Indonesia offshore exploration campaign.

The Arafura-1 well in Arafura Sea PSC has been drilled to the planned total depth but failed to make discovery due to tight reservoir as no hydrocarbon zone was encountered, an official with upstream oil, gas authority BPMIGAS said.

The company has earlier this year drilled the Aru-1 exploration well in Amborip VI PSC block with similar result.

ConocoPhillips has 51 percent interest in Amborip VI with French giant Total SA and Taiwan?s OPIC equally share the balance. The company holds a 75.5 percent interest in Arafura Sea PSC with the balance also held by Total. (bernard)