Indications Of Hydrocarbon At Ranhill's Oil Block In Indonesia

KUALA LUMPUR, Aug 21 (Bernama) -- Ranhill Bhd today announced there are strong indications of existing hydrocarbon encountered at its Pasundan exploration well in the Citarum block in West Java, Indonesia.The drilling which started in mid-May this year has progressed to 8,620 feet, the company said in a statement.Ranhill said currently, no estimate on the volume and quality of oil in place in the Baturaja limestone formation was available as the production test would be performed once the well was completed."Baturaja formation is quite thick, in excess of 2,500 feet in this well and the formation is a good reservoir based on the data from the nearby oil field," the company said.Ranhill Energy Sdn Bhd, through its 60 percent equity interest in PT Bumi Parahyangan Ranhill Energia Citarum Pte Ltd, won the Citarum block through a highly competitive bid.