Pertamina EP finds additional oil, gas reserves

PT Pertamina EP, an upstream unit of state-owned oil and gas firm PT Pertamina, announced on Monday that it has discovered total an additional 61 million barrels of crude oil and 619 billion cubic feet (BCF) of gas reserves in some of its fields during the first semester of this year.

"This ensures the growth of Pertamina EP's output," Syamsu Alam, the company?s exploration and development director, said in statement.

The new reserves were discovered at nine exploration wells in Indramayu (Akasia Bagus 1, KarangLuhur 1, Karang Degan 1 wells), Bekasi (Pondok mekar 1, Pondok Makmur 3 and 4 wells) and South Sumatra (Pagar Dewa 6X, Mandaru 1 and Ginaya 1 wells) regions from a total of 12 exploration wells that conducted drilling activities during the period.

This year, Pertamina EP plans to drill 26 oil and gas wells within its operational areas.

During the first half of 2010, Pertamina EP produced 130,400 barrels of crude oil per day, up from 127,100 barrels a day in the same period last year. Meanwhile, gas production reached 1,050 MMSCFD in the first semester. (godang)