Chevron holds a 50 percent stake in the Kisaran block where the well was drilled, and operates the well. The other 50 percent stake is held by Pacific Oil & Gas, a Hong Kong company. Indonesia awarded the Kisaran block to Chevron in 2001.
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Chevron Discovered Oil In Indonesia
Chevron Corp struck oil in a test well in Sumatra
The Indonesian government said Thursday that Chevron Corp. struck oil in a test well in Sumatra.
Half of Indonesia's oil production comes from Sumatran fields, and Chevron Pacific Indonesia is the largest oil producer in that country.
The Parit Minyak-1 test well showed oil at two different depths -- 6,000 feet and 9,000 feet.
Chevron holds a 50 percent stake in the Kisaran block where the well was drilled, and operates the well. The other 50 percent stake is held by Pacific Oil & Gas, a Hong Kong company. Indonesia awarded the Kisaran block to Chevron in 2001.
Chevron holds a 50 percent stake in the Kisaran block where the well was drilled, and operates the well. The other 50 percent stake is held by Pacific Oil & Gas, a Hong Kong company. Indonesia awarded the Kisaran block to Chevron in 2001.
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