Pacific Oil to drill two wells in N. Sumatra block
Friday, June 25 2010 - 04:43 AM WIB
Pacific Oil & Gas Indonesia (POGI) said in a tender announcement on Friday that it plans to drill two wells in its wholly-owned Kisaran block onshore North Sumatra.
The company did not, however, give details.
In January, the company said it wanted to sell its entire stake but in early June, Eddy Hermantoro, the upstream director at the Ministry of Energy and Mineral Resources, said that the company had decided to retain operatorship. ?The company is considering option to farm-out part of its interest in the block to other parties,? he said.
The company is a unit of Hong Kong?based firm Pacific Oil& Gas, which is controlled by palm oil and pulp and paper tycoon Sukanto Tanoto.
The block has made an oil discovery at Parit Minyak-1 well. (kanti)