GSS Energy strikes oil, to start production next year

Singapore

GSS Energy, a precision engineering firm newly venturing into oil exploration, has struck oil and gas in the Trembul field in Indonesia.

The group hopes, through its subsidiary, to produce some 200 barrels of oil per day (bpd) by the third quarter of next year, and to start gas production by the fourth quarter of 2018.

GSS announced on Wednesday that it has completed the first phase of drilling on its first well SGT-01 in the Trembul operating area in Cent…