Medco, partners to drill four more wells in E. Java, E. Kalimantan prospects this year

Medco Energi International Tbk, operator of Madura joint operating body (JOB) in East Java and Simenggaris JOB in East Kalimantan exploration blocks will drill two more well in each prospect this year, according its joint venture partner CityView Corporation Limited.

?Instead of drilling a deeper well at Sebaya-1, Medco will drill a well 6000 feet at Tambuku situated immediately to the north. Indications are that this prospect has greater oil potential than Sebaya,? CityView said in a statement Friday

CityView said that the Medco would also drill Telaga prospect, located nearby Karasan-1 well, with a target depth of 9,000 feet.

In Simenggaris JOB, CityView said Medco would drill Sesayap and Bankupesar prospect as soon as Pidawan drilling is completed. The drilling of Pidawan-1 has reached a depth of 2178 feet and casing is being set. The target depth of Pidawan-1 is approximately 5000 feet.

State oil and gas firm Pertamina has 35 percent interest in Madura JOB, while CityView, Medco and Falcon Oil Pte. Ltd hold 16.25 percent, 24.75 percent and 24 percent, respectively.

In Simenggaris JOB, Pertamina holds 37.5 percent working interest, while Medco, Cityview and Falcon Oil Pte Ltd 15 hold 31.8 percent, 15.6 percent and 15 percent, respectively. (alex)