Medco hopes to obtain drilling results at Block A next month
Tuesday, January 22 2013 - 01:41 AM WIB
PT Medco EP Indonesia expects to obtain in February 2013 the results of test drilling of the Matang#1 well in Block A, East Aceh. Medco also hopes to be able to close a deal with fertilizer firm PT Pupuk Iskandar Muda (PIM) over the selling price of gas from the block.
Medco has conducted drilling work at Matang#1 since mid November of last year, with a targeted depth of 10,000 feet (about 3,000 meters).
?The progress at Matang is very good. At the depth of 7,500 feet, casing was installed, and afterwards immediately moved to the P Zone. Hopefully, next week test well can be started,? Director of Development at Medco, Eka S. Djalins told Petromindo.com Tuesday.
He added that the company is still in negotiation process with PIM to finalize the selling price of gas from Block A. ?Hopefully, there will be good news in early February,? he said.
Medco operates Block A with a 41.67 percent interest, along with partners Premier Oil and Japex.
Editing by Reiner Simanjuntak