Medco seeks to extend contract in managing Lematang Block
Tuesday, January 8 2013 - 02:31 AM WIB
PT Medco EP Indonesia is seeking to extend its contract in managing the Lematang Block in South Sumatra, which will expire in 2017.
The company has already submitted the proposal to the government in late 2012, said company CEO Frilla Berlini Yaman to Petromindo.com Monday.
Frilla said that the extension of the contract is needed to allow Medco to further develop the Lematang Block for exploration prospect, and increasing production.
?The Singa #3 well has just undergone well head replacement so that production can be higher. Singa?s production increased by 20 percent. We?re currently waiting for (government) approval for the extension in managing the Lemantang Block.?
Editing by Reiner Simanjuntak