Manado beach may have oil reserves

At least two of the condensate blocks found in the country pass through the beach of Manado, the provincial capital of North Sulwesi, and along the western cost of the province, according to a local official.

Marthen O Patungan, a senior official at the province's mining office, said that the two oil blocks are part of the 30 oil blocks stretching out in the eastern part of the country. "But no exploration has yet been made on whether the two oil blocks contain significant oil reserves," he said.

Patungan said Indonesia has a total of 60 oil blocks, a half located in the western part of the country and the other half in the eastern parts. About 36 of the oil blocks have been explored but only 14 locations have started production, three of which are located in the eastern Indonesia.

He said that the two oil blocks in North Sulawesi have been offered to investors since 1995 but no companies have so far expressed their interest to develop them. (*)