Marathon hits another dry hole

US oil, gas firm Marathon Oil Corp reported on Tuesday that the second deepwater well it drilled in eastern Indonesia was declared dry hole.

According to the company?s report, the Romeo well, which was drilled in Pasangkayu PSC block offshore Sulawesi was determined to be dry even though the reservoir's thickness and quality confirmed pre-drill geologic models.

The company reported first quarter 2011 dry well expenses of US$159 million, mainly related to the Flying Dutchman well located in the Gulf of Mexico and the Romeo well in the Pasangkayu block.

Late last year the company reported that Bravo-1 well, the first well drilled within the block, failed to discover commercial hydrocarbon.

Marathon is the block operator with 70 percent interest. The company is committed to drill 4 wells in Pasangkayu.

Marathon also operates two other offshore exploration blocks in eastern in Indonesia namely Bone Bay block in the southern part of Sulawesi and Kumawa block in West Papua with the intention to start drilling in 2012. (alex)