Golden Code to soon carry out GG, Seismic study

By Godang Sitompul

Golden Code Commercial Ltd will carry out of the geological and geophysical (G and G) and 3D seismic studies on its wholly-owned North East Madura VI Offshore East Java in this quarter of the year.

The firm will not carry out a drilling program on the block until after the G&G and seismic studies have produced satisfactory results.

The firm was among the companies that signed oil and gas block contracts at the Ministry of Energy and Mineral Resources on Wednesday.

?In our contract commitment, we don?t have an obligation to drill one well in the first three years of exploration period. This is because few oil and gas discovery has been made in the area. We need to carry out another G&G study and a 300 sq km seismic study since there are apparently wrong data (on the block),? President Director Trijono Suryantantra told Petromindo.com.

Earlier, the firm teamed up with the Gadjahmada University in Yogyakarta to carry out a study on the block. The firm will team up with another party to carry out another study on the area, Trijono said without specifying the potential study partner.

Editing by Johannes Simbolon