Premier Oil finds oil

Premier Oil Pangkah Ltd, has found oil and gas reserves in the Block Pangkah field in Gresik, East Java, the Bisnis Indonesia daily reported.

Spokesman of the foreign oil and gas firm development and management body (BBPKA) of the state-owned oil and gas firm Pertamina Abubakar Sidick Nitikusuma said that the oil reserves found by Premier Oil was located at the Sidayu I oil well.

Sidick said that the oil reserves was equal to 1,450 barrel per day.

The Block Pangkah oil field is managed by Premier Oil in cooperation with Amerada Hess Indonesia Pangkah Ltd., Gulf Resources Pangkah Ltd., and Dana Petroleum Plc. (*)