Pertamina strikes oil in S. Sumatra

State oil and gas firm Pertamina said on Monday it had discovered oil in its exploration well in South Sumatra operations and had indicated the finding could be significant.

?We have encountered 50 meters-thick oil layer in Gunung Kemala at the depth of around 2,900 meters. We will continue drilling until 3,500 meters and hope to find more, ? said upstream director Iin Arifin Takhyan.

The well flowed 500 barrels per day of oil and 9 million standard cubic feet per day (MMCFD) of gas.

Iin said the well was likely to contain 230 million barrels of recoverable oil and 600 billion cubic feet of gas. (alex/godang)