Repsol Makes Big Gas Discovery in Indonesia

   By Nathan Allen

Repsol SA (REP.MC) said Tuesday that it has made a large gas discovery on the Indonesian island of Sumatra.

Preliminary tests suggest the KBD-2X well, located on the Sakakemang block in South Sumatra, could hold at least 2 trillion cubic feet of natural gas, Repsol said.

The Spanish energy company said it was the largest find made in Indonesia for 18 years and among the 10 biggest of the last 12 months.

Repsol is the block's operator with a 45% stake, while Petronas Gas Bhd (6033.KU) holds another 45% and Japan's Mitsui Oil Exploration Co. holds the remaining 10% equity.

The Spanish group said it plans to drill another test well in the coming months and continues to work with the Indonesian authorities on the next steps for the project.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

February 19, 2019 09:06 ET (14:06 GMT)

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