Medco spuds S. Sumatra exploration well

JSX-listed Medco Energi Internasional Tbk had spudded the first exploration well in Merangin I onshore PSC in South Sumatra early this month.

Medco E&P director Budi Basuki said that the well would be drilled to the depth of 7,000 feet. The drilling is expected to be completed in three weeks. Medco E&P is a wholly owned subsidiary of Medco Energi.

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. (alex)