Exxon to Drill Two Appraisal Wells in Banyu Urip

ExxonMobil Oil Indonesia and Pertamina plan to drill in Banyu Urip field in Cepu this month. The drillng of two appraisal wells will verify the oil reserves in the field, ExxonMobil Oil Indonesia's Vice President for Commercial & Planning Maman Budiman said in Jakarta earlier this week.

"We will drill two appraisal wells in Banyu Urip this month," Maman Budiman said. He added that the partners continue clearing lands in Cepu to accelerate production from the block.

Cepu block is estimated to hold 600 million barrels of oil and 1.7 TCF of gas. Banyu Urip is estimated to hold 250 million barrels of oil.