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Selasa, 16 Agustus 2011

BUMI Postpones Gallo Oil Drilling on Yemen's Political Uncertainties - The Indonesia Today

Bumi Resources (BUMI) said political situation in Yemen delays work plans for Gallo Oil's R-2 block and Block 13.

BUMI said Gallo Oil initially planned to drill one exploration well in the second quarter of 2011. "But work plans delayed temporarily due to political situation in Yemen is not conducive enough for drilling activities," BUMI said.

BUMI said the first well was drilled on November 30, 2007, which was completed in December 2007 to the total depth of 1,557m. "Drilling found no oil reserves. The second well, Tasilah West #1 was drilled on December 30, 2007, but found only water, without oil," BUMI admitted.

BUMI claimed of finding gas reserves in the Al Rizq structure of Block 13. The plan was to conduct further drilling by mid 2011 to calculate gas reserves. "But this has been postponed due to political situation in Yemen," BUMI said.
Posted by Saham Pilihan at 04.52

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