Marathon to spend $100m in 2010 Indonesian drilling campaign
Friday, November 20 2009 - 02:02 AM WIB
US oil, gas firm Marathon Oil Corporation will start drilling two high-risk high-potential exploration wells in its Pasangkayu offshore exploration block in the second quarter of 2010.
The company said the drilling campaign, which employ Transocean GSF Explorer, will cost US$50 million each.
The first well called Bravo has gross unrisked potential of 250-1,000 MMBOE with the second well called Romeo has gross unrisked potential of 250-500 MMBOE, the company?s presentation material published Thursday showed.
Marathon is the block?s operator with 70 percent interest. The block was awarded in 2008 and Marathon has committed to drill four exploration wells in the block.
Meanwhile, the company said it would acquire 2D seismic in Bone Bay and Kumawa exploration blocks in 2010. Marathon is the operator in both blocks with 49 percent interest. (alex)