Medco gets one-year extension for Madura JOB
Thursday, January 30 2003 - 04:40 AM WIB
Australian listed oil company CityView Corporation said on Thursday that the exploration license for the Madura joint operation body (JOB) had been extended for one year, from May 15, 2003 to May 15, 2004.
?The Operator (PT Medco Energi International) has advised that it has received positive official confirmation from the Indonesian Department of Energy,? CityView said in a statement.
Madura JOB is located in East Java province. Currently, the operator is continuing the second drill stem test on Tembuku well.
State oil and gas firm Pertamina has a 35-percent interest in Madura exploration block, while CityView, Medco, and Falcon Oil Pte. Ltd hold 16.25 percent, 24.75 percent and 24 percent, respectively. (robert)