Videocon Industries has discovered hydrocarbons in the Badik discovery,
located in the Tarakan Basin of Indonesia.
It encountered approx 133 net ft of oil and gas pay. The well was drilled to
a total depth of approx 14,300 ft in around 230 ft of water. Videocon holds 12.5
per cent working interest in the block through its overseas subsidiary Videocon
Indonesia Nunukan.
Anadarko operates the block with a 35 per cent working interest and other
partners FT Medco E&P Nunukan holds 40 per cent working interest whereas BPRL
Ventures Indonesia BV holds 12.5 per cent working interest.