Medco says EOR might add 64MMBO to its Rimau reserves
Monday, August 11 2008 - 03:02 AM WIB
IDX-listed energy firm PT.Medco Energi Internasional Tbk said enhanced oil recovery (EOR) application in its Rimau PSC onshore South Sumatra may increase potential reserves by another 64 million barrels of oil and expected that EOR production could start in 2012.
The company said in a presentation posted in its website that pilot project on EOR have been drilled this year and surfactant test had also been started.
The company said chemical injection would start in 2010.
The company booked reserves of 56 MMBO and 3.24BCF (P1) and 72.67MMBO and 10.98BCF (P2) as per June 30, 2008.
Production from the block had been steadily decreasing to 25,800 BPD in 2007 from 53,000 BPD in 2003.
Medco has 95 percent interest in the block. (denny)