Exxon Discover New Oil Field in Block Cepu

JAKARTA - Exxon Mobil has found a second oil field in Cepu. This is the second oil discovery for Mobil Cepu Ltd in Cepu. Previously, ExxonMobil also has found four gas reserves at the site since the commencement of the exploration phase in 1999.

Oil was found on the Well Kedung Keris-1 with a depth of 7032 feet or 2134 meters, with a thickness of oil 561 feet (171 meters). The location of this discovery is located 14 kilometers from the Field Banyu Urip who discovered oil in 2001.

"The discovery in Kedung Keris will be an important addition to the 450 million barrels of oil expected from full development of the Field Banyu Urip," said President of Mobil Cepu Ltd Terry S. McPhail in a statement here on Monday (4/25/2011).

Terry explains, proximity to the Field Banyu Urip provide good opportunities for the development of integration these new findings. Over the next few months, data from wells Kedung Keris-1 will be analyzed in order to ensure the full potential of these reserves.