Medco plans 2D seismic in South Sumatra block
Wednesday, May 10 2017 - 01:23 AM WIB
IDX-listed energy company PT Medco Energi Internasional Tbk plans to carry out a 330-km 2D seismic program at South Sumatra block in South Sumatra Province in the fourth quarter of this year.
The company said in a statement Tuesday that the upstream oil and gas authority SKK Migas has approved the expenditure plan for the seismic program.
It added that the new 2D seismic activity, which is a continuation of previous 647.9-km 2D seismic program, aims to finalize shallow targets in the area of Musi Platform as well as to fulfill exploration commitments.
The South Sumatera Block, wholly-owned by PT Medco E&P Indonesia, has been awarded a contract extension until the year 2033.
Editing by Reiner Simanjuntak