Pertamina EP reports higher success rate in drilling activities

PT Pertamina EP, a subsidiary of state owned oil and gas company Pertamina for exploration and production activities, reported a higher success rate in drilling activities during the period between January and August, this year.

Syamsu Alam, the company?s director for exploration and development, said in Jakarta Friday that the success rate of the company?s drilling operations rose to 84.6 percent during the January-August period, compared to 76.9 percent in the same period, last year and 75 percent in the same period, 2008.

Of the 12 wells being drilled during the period between January to August, the company could not find any oil or gas reserves in only two wells.

Syamsu said that during the first half of last year PT Pertamina EP found new oil and gas reserves of about 61 million barrels of oil and 619 billion cubic of gas. (bernard)