Kuwaiti oil exploration company KUFPEC Indonesia has found new oil and gas deposits in the waters off Natuna coast in Riau Islands, the Upstream Oil and Gas Special Regulatory Task Force (SKK Migas) has informed.

The discovery of new deposits suggests that Indonesia’s oil and gas potential can still attract foreign investors, SKK Migas deputy head for planning, Benny Lubiantara, said in a statement accessed from Jakarta on Friday.

KUFPEC has signed a contract with SKK Migas to conduct oil and gas exploration, he added.

Lubiantara expressed the hope that the discovery of oil and gas deposits will encourage international oil companies to invest in Indonesia.

KUFPEC found the new oil and gas deposits based on drill steam tests conducted in the Anambas-2X exploration well in Anambas Block, Natuna Islands, he informed.

The company conducted five drill steam tests in Gabus Bawah, Intra Keras, and Formasi Arang, he said. The tests showed a combined flow rate of 40 mmscfd of natural gas and 1,240 stb/d of condensate, he added.

“The discovery suggests that the oil and gas potential in Indonesia is still promising,” he said.

The well was drilled at a depth of 288 feet using rig jack-up to achieve a total depth of 10,509 feet, he added.

KUFPEC acting president director Shaikh Nawaf Saud Al-Sabah said the successful discovery reflects the capability of the company as an operator capable of maintaining the environment in conducting offshore exploration.

“The deepening and testing program used in this drilling program is one of the best examples of KUFPEC’s determination to make the maximum use of its assets in Indonesia,” he added.

KUFPEC is an international upstream company engaged in crude oil and gas exploration, development, and production outside Kuwait. KUPEC is a subsidiary fully owned by Kuwait Petroleum Corporation.

Source: Antara News