Oilfields development
Malaysian Genting Oil Finds Gas in Indonesian West Papua Kasuri Block
Malaysia's Genting Oil has found gas in Indonesia's West Papua Kasuri block, which is still in the exploration stage, the spokesman of Indonesia's upstream regulator BPMigas Elan Biantoro said in a statement.
"The gas discovery is expected to be significant. The Asap exploration well has flowed 100,000 Mcf/d of gas during drill-stem tests from three layers," Biantoro said.
Genting will carry out a 3-D seismic survey and drill four exploration wells to confirm the discovery, he added.
Indonesia has seen its crude output fall because of declining production at aging fields. However, gas production is still exceeding the target.
Indonesia exceeded its 2010 gas output target of 7.56 Bcf/d, producing 8.888 Bcf/d. The country's proven gas reserves has reached 108.39 Tcf, BPMigas said.
Genting was awarded the Kasuri block by the Indonesian government in 2008. The company would spend $1.5 million on geology and geophysics studies in the first three years. It earlier provided $19 million as signing bonus to the government.
