Medco E&P cuts oil theft to zero percent

By Godang Sitompul

PT Medco E&P Indonesia, a subsidiary of listed PT Medco Energi Internasional, said it has managed to eliminate oil theft from its Rimau block pipeline so far this year amid tightening security surveillance, a company official said.

?From early 2012 to present, there has been no oil theft in Rimau Block,? Manager for Public Relation and Security of Rimau assets, Julian Sudarmonegoro told Petromindo.com.

He said in 2010 there were 12 cases of crude oil theft with a volume of 1,508 barrels of oil and declined to two cases in 2011, but with high volume of 1,877 barrels of oil.

The Rimau Block produces about 16,000-17,000 barrels of crude oil per annum.

Julian said the company intensified surveillance and routine patrol along the pipeline during the period, enabling the company to eliminate the oil theft.

Editing by Roffie Kurniawan