Exspan finds huge gas, oil

Oil and gas company PT Exspan Nusantara and its state-owned counterpart Pertamina have discovered a large gas reserve of about 5 trillion cubic feet (TCF) in Luwuk Banggal Regency, Central Sulawesi.

Pertamina said in a media statement on Wednesday that the two companies had also found oil reserves in South Sumatra.

The statement said that the Central Sulawesi gas reserves were located by a joint operation between the two companies, PT Exspan Tomori Sulawesi, after it completed drilling on July 6 in the Senoro 2 well.

The Senoro-2 well flows some 20 million cubic feet of gas and 435 barrel of condensate per day.

Elsewhere, the statement said that the oil reserve was discovered on July 12 after drilling the Matra 2 well in the South Sumatra Extension block that has a capacity of 1,100 barrels of oil per day.

The discovery, which was the second success after previous drilling in November last year, would be followed with the next Matra 3 well, the statement said.

"Exspan will propose to Pertamina a plan to develop the Matra and the Senoro fields," it said. (bodega/godang)