Pertamina Finds Oil, Gas Reserves

Pertamina Hulu Energi-West Madura Offshore, a subsidiary of Pertamina has discovered new oil and gas reserves from the first exploration well drilled this year.

Initial estimates suggest that well may  produce 3,500 barrels per day (bpd) of oil and 10 million standard cubic feet per day (mmscfd) of gas.

The latest discovery may add to the total oil and gas output of the company in the third quarter of this year.

The well, which is one of nine exploration wells scheduled to be drilled this year, was first drilled on Feb. 24, while the oil and gas reserves were found in March 12.