Medco estimates 25 BCF gas reserves at Pidawan-1 well
Tuesday, August 6 2002 - 09:39 AM WIB
Australian listed company CityView Corporation Limited said on Tuesday its join venture partner and the operator, PT Medco Energi International Tbk, had estimated that gas reserves at Pidawan-1 well reach 25 billion cubic feet.
Pidawan-1 discovery well is located in Simenggaris joint operating body (JOB) Block, East Kalimantan.
According to CityView the potential market for the gas discovery includes the Bunyu Methanol Plant and power generation in Tarakan Island.
The operator is currently conducting a feasibility study on the building of a pipeline from the Pidawan location to Tarakan Island in order to market the gas, CityView added.
State oil company Pertamina holds 37.5 percent of working interest in Simenggaris JOB, while Medco, CityView, and Falcon Oil Pte Ltd hold 31.8 percent, 15.6 percent, and 15 percent, respectively. (robert)