Medco strikes oil in C. Sumatra
Monday, October 22 2007 - 05:23 AM WIB
Medco E& P, an upstream unit of JSX-listed oil and gas firm PT Medco energi Internasional said on Monday it had discovered oil in its Central Sumatra operations area.
Director Edi Bambang Setyabudi told Petromindo.Com that the Kaju-1 exploration well in South and Central Sumatra PSC flowed 300 barrels per day during the testing of one interval early October. He said testing of other intervals in the well is currently continuing.
He said the company might embark on delineation drilling program next year to evaluate the extend of the discovery.
According to Medco?s drilling report released on Septmebr 12, 2007, the well was planned to be drilled to the total depth of 4,863 feet and has reached 4,687 feet by the ned of August. (alex)