Ranhill to commence W. Java 1st exploration drilling Feb.

Malaysian firm Ranhill Berhad said on Tuesday its Indonesian upstream unit would commence first exploration drilling in Citarum PSC onshore West Java early 2007.

The company said all requisite budget and planning approvals have been obtained from BPMIGAS and currently it was in the process of finalizing land acquisition, tendering of materials and services and is on schedule to spud the exploration well Pasundan-1 in February 2007.

Earlier report said that the well was initially intended to be spudded in November this year.

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 per cent investment in a joint venture company PT Bumi Parahyangan Ranhill Energia Citarum, secured the oil block in October last year.(alex)