ConocoPhillips seeking more oil and gas fields

Minister of Energy and Mineral Resources Purnomo Yusgiantoro said that besides increasing its investment in existing oil and gas fields such as Belanak and Muara Tawar in South Sumatra, ConocoPhillips is also seeking new oil and gas blocs as a part of its expansion in Indonesia, Bisnis Indonesia reported on Monday.

The minister said that the company would, for example, increase its oil production capacity to 50,000 barrels per day at its Belanak oil and gas field, build gas pipeline at its Muara Tawar gas field in South Sumatra and also use state owned gas distribution company PGN?s gas pipeline.

?The company is also seeking new oil blocs,? the minister said following a meeting between President Megawati Sukarnoputri and ConocoPhillips? management in Indonesia.

ConcoPhillips has also appointed the United States-based solution company Honeywell to handle the automation of the company?s Belanak gas field with a total contract value of about US$14.5 million.

ConocoPhillips? manager for development and communications, David Ashfield, said that the use of sophisticated technology made the Belanak gas field as one of the most modern gas field in the world.

He said that for ConocoPhillips, the Belanak gas field is the most strategic project in Southeast Asia, particularly in meeting the growing gas demand in the world. (*)