Marathon to start Indonesia drilling campaign

US oil, gas firm Marathon Oil will start Indonesian deepwater drilling campaign in the second quarter of this year by drilling two wells that would cost US$50-65 million each.

The Company revealed in a presentation released on Wednesday that GSF Explorer drillship will drill high risk-high reward Bravo well which has gross unrisked potential of 250-1 MMBOE and will be followed by Romeo well, which has gross potential of 250-500 MMBOE. Both wells are located in Pasangkayu Block in Makassar Straits, where the Company is operator and 70 percent interest holder. It has commitment to drill four wells in the block, which was awarded in 2008.

The Company also revealed that it would start drilling at its Bone Bay in South Sulawesi next year, to be followed by another well in Kumawa PSC block offshore West Papua . It said it had acquired 2 D seismic in both blocks this year. Marathon is the operator of both blocks with 49 percent interest. (alex)