Genting Oil & Gas Finds Gas at Anambas-1X Offshore Indonesia

Genting Oil & Gas

Genting Oil & Gas Limited has successfully completed drilling the exploration well Anambas-1X in which both dry gas and gas condensate were discovered.

The well is located on the Anambas Prospect in the Anambas Block of West Natuna. The Anambas-1X well is situated in Indonesian waters, 160 kilometers north of Matak and 280 kilometers east of Kerteh, Malaysia. The Anambas Block is operated with a 100% interest by GOGL's wholly-owned subsidiary, Sanyen Oil & Gas Pte Ltd ("SOGPL") under a Production Sharing Contract with BPMIGAS. BPMIGAS is the Indonesian agency responsible for supervising upstream oil & gas activities.

The Anambas-1X well commenced drilling on July 9, 2006 and was tested at a gas flow of 15.6 mscfd (million cubic feet of gas per day) and at a condensate flow of 488 bcpd (barrels of condensate per day).

Further evaluation of the Anambas-1X results will be undertaken to determine the reserve size and development potential, and henceforth the commercial viability of this discovery.

Genting's Oil & Gas division will shortly begin the drilling of two more exploratory wells, 90km to the north of Anambas-1X, in the oil-prone Northwest Natuna Block in Indonesia.