Medco drills dry hole in S. Sumatra block
Monday, February 16 2009 - 12:49 PM WIB
IDX-listed energy firm PT.Medco Energi Internasional Tbk reported on Monday that its unit had drilled a dry hole in its Rimau PSC onshore South Sumatra.
The company reported that the Noni-1 exploration well was drilled to the total depth of 5,605 feet by the end of January 2009.
The company planned to plug and abandon the well after drilling data showed it had no hydrocarbon content.
Medco spent US$1.2 million for the drilling. (alex)