Medco preparing PoD for further exploitation of Rimau block
Monday, January 30 2012 - 05:24 AM WIB
PT Medco Energi E&P Indonesia, a subsidiary of listed PT Medco Energi Internasional Tbk, said that it is now preparing the Plan of Development (PoD) for its maturing Rimau block in South Sumatera that will be submitted to the upstream oil and gas authority BPMIGAS following encouraging drilling results at Rumbi-2 well within the block.
?The test result of Rumbi-2 at Talang Akar and Batiraja formations proved oil reserves. Taba-1 and Taba-2 wells are undergoing huff and puff process to prove oil reserves,? Medco E&P spokesperson Joang Laksanto told Petromindo.com.
He said there has been indication of condensate at Taba-1 and Taba-2 wells, however further well testing is needed to prove oil reserves.
The company said earlier that it is also planning to drill two additional exploration wells ? Tala-2 and Tajak-1. Once these wells are drilled, the company would drill Tala-1 and Tala-3 well.
Medco has 95 percent stake in Rimau block.
Medco is applying enhanced oil recovery (EOR) technology by injecting chemicals ? surfactants and polymers --into the reservoir to ramp up oil production at the block's maturing field, Kaji-Semoga.
The field is among the company?s largest oil fields. As of December 31, 2010, the block?s proven and probable gross reserves were around 52.7 million barrels of oil equivalence (MBOE).
Editing by Roffie Kurniawan