Medco, partners move forward E. Java exploration well test schedule
Monday, April 8 2002 - 06:55 PM WIB
Australian listed oil explorer CityView Corporation said on Monday that its joint venture partner PT Medco Energi International, the operator of Madura exploration block had moved forward its plan to test the Sebaya-1well.
CityView said the testing, which was originally scheduled for mid 2002, would now commence by month end.
The removal of drilling equipment from Karasan prospect which is also located in Madura block to Sebaya is 66 percent completed. Testing of the three higher zones of Sebaya-1 will then proceed, said CityView.
State oil and gas firm Pertamina has 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. (alex)