Exspan to drill Merangin block in 2005

Oil and gas producer PT Exspan Nusantara said Thursday it will possibly drill its newly acquired Merangin I block in South Sumatra by end-2005.

Seismic study on the block was planned for completion by the end of next year, Exspan president director Darmoyo Doyoatmodjo told Petromindo.Com.

The Merangin I block covers the acreage of 3,247 square kilometers and is located northwest of the company?s most productive field the Kaji/Semoga.

Exspan?s parent company PT Medco Energi International believes that the Merangin I block has reserves of around 18 million barrels of oil and 84 billion cubic feet of gas at Bangko prospects, and around 72 billion cubic feet gas at Telisa and Leko prospects. (godang)