Brantas PSC

Gross production was 39.4 mmcfd. Strategic priorities for development at Brantas include the optimization of gas production from Wunut, Tanggulangin and Carat gas fields, new gas contracts and further appraisal and exploration to realize the potential of the deep Kujung exploration play.

Six wells were spudded during the year with success recorded in both appraisal and development drilling. Gas was found at the Tanggulangin-5 well, and both oil and gas found at the Wunut-19 well. Tanggulangin first gas is planned for the third quarter of 2007, with 4 bcf sold at a contract prices averaging US$ 4.1/mmbtu. The Carat field commenced gas production in April 2006 at 2.5 mmcfd.

Banjarpanji well, spudded early in 2006, subsequently ceased operations after substantial seismic activity in Central Java during May.