Medco plans Merangin-1 drilling Oct.
Monday, August 22 2005 - 01:23 AM WIB
JSX-listed oil firm PT.Medco Energi Internatsional Tbk. will drill one obligatory exploration well in Merangin 1 onshore block, South Sumatra, a company official said.
Gesang well will be drilled to the depth of 7,000 feet, Medco E&P director of operations Budi Basuki told Petromindo.Com over the weekend in Palembang. MedcoE&P is an upstream wholly owned subsidiary of Medco.
Medco operates the block with 41 percent interest with a subsidiary of Thai energy conglomerate PTTEP and MOECO, a subsidiary of Japan?s Mitsui Oil Exploration Company hold 39 and 20 percent, respectively. (godang)