ConocoPhillips hits dry holes, relinquish block
Monday, March 5 2012 - 03:05 AM WIB
By Bernard Loebs
US oil major ConocoPhillips drilled two dry holes offshore eastern Indonesia in 2011.
The company?s recent filing showed that it drilled Kaluku well in Kuma PSC and Mutiara Putih well in the Arafura Sea PSC.
Both were expenses as dry holes, the company said. ConocoPhillips has 60 percent interest in Kuma and 51 percent in Arafura Sea and is operator in both blocks.
A Petromindo.com source said that the Kaluku well actually hit hydrocarbon but at sub-commercial volume.
The company also relinquish Amborip VI PSC offshore east Indonesia in 2011 after drilling failed to discover hydrocarbon.
Editing by Alexander Ginting