Flow test at Libyan second well encouraging: Medco

PT Medco Energi International said that its wholly owned subsidiary Medco International Ventures Limited (MIV) and its partner Canadian-based oil and gas exploration Verenex Energy Inc are completing flow test at their second exploration well in Libya.

 

Verenex as the operator has flow tested three of five planned intervals in the Lower Acacus and Middle Acecus Formations in the B1-47/02 well. The test is targeted to complete by early June end the KCA DEUTAG Service Rig 32 will be subsequently deployed to flow test the C1-47/02.

 

"Flow test results to-date are encouraging and aggregate flay rates are expected to exceed those achieved in the A 1-47/02 well which tested at a maximum measured rate 12,500 barrels of oil per day as limited by test equipment capacity, and a normalized rate of 6,568 barrels of oil per day through a restricted choke size of 3264ths inch as requested by the Libiyan National Oil Company (NOC)," MedcoEnergi said in a statement.

 

MedcoEnergi will release the aggregate flow test results on the B1-47/02 later after the Operator concludes the testing program and the NOC reviews the results.

 

MedcoEnergi and Verenex has equal shares in the Libyan concession. (Bodega)