Repsol announces big gas discovery in Indonesia

Spanish energy giant Repsol announced on Tuesday it had made a substantial natural gas discovery in Indonesia along with its partners, Malaysia's Petronas and Japan's Mitsui Oil Exploration (Moeco). The company described the discovery in South Sumatra as "the largest gas find in Indonesia in 18 years" and one of the 10 largest in the world over the past 12 months.
"The discovery was made in the Sakakemang block in South Sumatra, where Repsol, as operator, holds a 45 percent working interest," it said. Petronas owns another 45 percent and Moeco the remaining 10 percent. Repsol estimates that the well may hold at least two trillion cubic feet (57 billion cubic metres) of recoverable resources. Repsol holds several licences in Indonesia, which is the focus of its exploration investment in southeast Asia.