Medco makes oil, gas find at C. Sulawesi block
Friday, September 18 2009 - 03:08 AM WIB
PT Medco E&P Indonesia, a unit of IDX-listed energy firm PT Medco Energi Internasional Tbk said on Thursday it had discovered hydrocarbon during an exploration drilling conducted at its Senoro-Toili block onshore Central Sulawesi.
President Director Budi Basuki said that the Cendanapura-1 well, which was spudded on August 6, 2009 and drilled to the depth of 7,000 feet flowed 580 BPD of oil during a test at the interval of 6660-6670 ft and 19.22MMCFD of gas at the interval of 6530-6560 ft.
The company plans to drill one delineation well Cendanapura-2 mid-2010, he said.
Medco and state oil and gas company PT Pertamina share equal interest of 50 percent in the block.(bernard)