Medco expects oil production at Yemen block to rise to 10,000 bopd

By Godang Sitompul

Medco Yemen Malik Ltd, a unit of Indonesia-listed PT Medco Energi Internasional, said oil production at newly acquired Block 9 (Malik) in Yemen to rise to 10,000 bopd within the next 12-18 months compared to the current level of 6,000-6,500 bopd.

?Production currently stands at the level of 6,000-6,500 bopd. The plan is to raise (production) through a number of workovers, and also from other oil fields within the near future,? company Corporate Secretary Imron Ghazali told Petromindo.com.

Medco Energi Internasional, through its wholly owned subsidiary Medco Yemen Malik Ltd, owns a 21.25 percent participating interest in the Block (Malik) Production Sharing Agreement following acquisition made earlier in the year.

Cal Valley Petroleum (Cyprus) Ltd, which has a 42.50 percent interest, is the operator of the block.

Editing by Reiner Simanjuntak