Medco spuds Pastel-1 well in Tarakan block

By Febry Silaban

PT Medco E&P Tarakan, a unit of IDX-listed firm PT Medco Energi Internasional Tbk said it has spudded the Pastel-1 well in the Tarakan block, East Kalimantan, on Nov. 29, 2013.

?Currently the well has been drilled to a depth of 156 feet,? Head of Corporate Secretary at MEPI, Imron Gazali said to Petromindo.com on Thursday. He said the target depth (TD) of the drilling is 3,200 feet.

Medco acquired the Tarakan block from Tesoro in 1992 (100 percent). In 2002, the company obtained a contract extension until 2022.

Editing by Reiner Simanjuntak