Gulf Indonesia to resume E. Java drilling campaign Q2 2003

Gulf Indonesia Resources said on Thursday it planned a new drilling campaign in Ketapang offshore exploration block, East Java which would commence during the second quarter of next year.

The company said 3D seismic survey is continued is expected to be completed by fourth quarter of 2002.

Last year, Gulf Indonesia made several significant oil discoveries in the blcok

Gulf Indonesia holds 50 per cent working interest in the Ketapang PSC. Gulf's partner is Petronas Carigali Overseas Sdn Bhd, a subsidiary of Malaysian national oil and gas corporation Petronas, which holds the remaining 50 percent. (alex)