Repsol and partners Petronas and Moeco made a huge gas discovery in Indonesia, which is the largest in the country in 18 years, and one of the ten largest finds in the world in the past 12 months, Repsol announced Tuesday.
According to the Spanish company's statement, the discovery was made in the Sakakemang block in South Sumatra, and the KBD-2X well completed along with partners Petronas and Japanese Moeco is estimated to contain at least 2 trillion cubic feet (56.6 billion cubic meters) of recoverable resources.
Repsol is the operator of the block with a 45 percent working interest. Petronas also owns a 45 percent interest while Moeco holds the remaining 10 percent.
According to the press release, Repsol will continue the exploratory work in the coming months with an additional planned appraisal well.
"Repsol has cooperated closely with [Indonesia's] SKK Migas on the exploration activity carried out in the block and continues to work on next steps with Indonesian authorities," it said.
Founded by the Indonesian government, SKK Migas is a special task force for upstream oil and gas business activities.
According to the statement, Indonesia is the focus of Repsol's exploration investments in Southeast Asia. The company holds several onshore and offshore licenses in Sumatra, and plans to execute an intense drilling and seismic acquisition campaign in 2019 and 2020.
By Hale Turkes