PetroChina spuds W. Papua exploration well

Chinese oil giant PetroChina spudded on Monday its KUW North-1 exploration well in Salawati Basin PSC (previously known as Kepala Burung PSC), onshore West Papua.

PetroChina?s Government and Public Relations Manager Maryke P. Yustika told Petromindo.Com on Tuesday that the firm planned to drill a total depth of 8,234 feet. She did not give further details.

Currently the block produces about 7,100 barrel oil per day, she said.

On Dec 22, 2008, BPMIGAS Deputy Chairman Eddy Purwanto told Petromindo.Com that PetroChina may have made significant oil discovery in its recent exploration drilling in the block, saying the South Walio well contained ?significant oil?. He did not elaborate.

PetroChina operates Salawati Basin with a 30 percent interest, while state-owned oil and gas PT Pertamina, Pearl Oil, and Lundin Petroleum holding 10 percent, 34.064 percent, and 25.936 percent, respectively.(godang)