Ranhill delays W. Java first exploration drilling well

Malaysian firm Ranhill Berhad said on Thursday that its Indonesian upstream unit would delay first exploration drilling in Citarum PSC onshore West Java due to weather and rig availability.

Ranhill said that it was expected to sput first exploration well Pasundan-1 in 28th March 2007, which was delayed from earlier schedule in February 2007.

A second commitment exploration well Kujang-1 will be drilled during 2007 on completion of Pasundan-1, Ranhill added.

According to the study by the consultant, the expected resources in one of the prospects in Citarum block called Pasundan is between 150 million and 342 million barrels of oil.

Ranhill, via its 60 percent investment in a joint venture company PT Bumi Parahyangan Ranhill Energia Citarum, secured the oil block in August 2005. (denny)