Oilfields development
Ramba Energy Expects to Double Gas Production
Mainboard-listed Ramba Energy has said it expects to double its gas production with two new wells by the end of this year.
This latest development comes as Ramba Energy announced earlier this month that it has made a surprise oil discovery at an Indonesian gas field.
That was in West Java at its site in Jatirarangon, also known as the 'Jati Block'.
The two new wells are expected to provide an additional daily gas output of at least 4 million standard cubic feet.
At present, total oil production at the 'Jati Block' stands at around 3.4 million standard cubic feet per day.
In addition, Indonesia's state-owned gas company, PT Perusahaan Gas Negara, will pay Ramba Energy a one-time lump sum payout of US$2.18 million in support of its work towards raising gas production.
The firm said it will begin the drilling of the two wells in the second half of the year.
Commercial Director of Ramba Energy, Daniel Jol, said that the firm is hugely encouraged by the recent outcomes, along with its surprise oil find earlier this month.
The tender process for the drilling is expected to begin over the next few weeks.
