Petronusa to start drilling oil wells in Riau early in 2003
Monday, December 2 2002 - 05:25 AM WIB
Oil producer PT Petronusa Bumibakti said it had completed 2D and 3D seismic surveys in Selat Panjang Block in Riau, and would start drilling for oil on the block early next year, Kompas daily reported.
Petronusa president director Chia-Hsin Charlie Wu said in Riau over the weekend seismic surveys on the block had last 150 working days.
Chia said they were highly optimistic to discover large oil reserves in the Selat Panjang block.
He argued the block was situated in the area where Coastal Plain Pekanbaru (CPP) Block is also located. The block is jointly managed and operated by state oil and firm Pertamina and PT Bumi Pusako, which is owned by Riau Province.
?Oil reserves on Selat Panjang Block could even be bigger than those in CPP,? Chia said.
Petronusa has 51 percent interest in the Selat Panjang Block, while the remaining 49 percent goes to International Mineral Resources Inc. (*)