Exxon Mobil says Cepu appraisal drilling better than expected

Indonesian unit of US oil, gas giant Exxon Mobil Corp. said recent appraisal drilling at Cepu block onshore Java has confirmed that Banyu Urip oil field reserves size.

ExxonMobil Oil Indonesia (EMOI) VP External Relations Maman Budiman told Petromindo.Com on Wednesday that flow test from the BU-A4 appraisal well confirmed that the reserves size ?is better than expected?. He did not give detail.

Another appraisal well called BU-A3 is currently being drilled.

EMOI and its partner Pertamina is currently trying to get early production from Banyu Urip at the beginning of 2009.

Maman said the partnership would continue with the drilling of three exploration wells in Cepu block next year, namely Alas Tua East, Alas Tua West and Kedung Keris.

The Cepu block has estimated oil reserves of about 600 million barrels spread over several wells, including Banyu Urip, the largest field with an estimated reserve of 350 million barrels. (alex)