Husky to spend $60m in Indonesian blocks

Canadian oil firm Husky energy said on Monday it would spend C$60 million in Indonesia next year to progress development of the Madura BD natural gas field offshore East Java and a 3-D seismic program over the recently acquired East Bawean II Block, also in East Java.

Husky has 100 percent interest in Madura BD Block, which has proven and probale reserves of 360 BCF. Husky is reportedly negotiating with state electricity firm PLN to supply gas to the former?s proposed 500-MW Pasuruan power plant in east Java and also with state gas distribution firm PGN.

Husky also has 100 percent interest in East Bawean II bock, which was awarded in September 2006. The company has committed to conduct 1,410 3D seismic and to drill 2 wells on the block.(alex)