Medco to apply CTD in Natuna in 2018

By Febry Silaban

Courtesy of Medco

Medco E&P Natuna Ltd., a subsidiary of IDX-listed energy company PT Medco Energi Internasional Tbk, plans to apply the Coiled Tubing Drilling (CTD) program in South Natuna Sea Block B PSC, Riau Islands Province, in 2018, according to an official of the firm.

"The schedule of CTD program implementation is being discussed with SKK Migas (upstream authority) and it is expected to begin in 2018," Senior Manager Relations and Security of Medco E&P Natuna Ltd., Drajat Panjawi, told Petromindo.com.

Drajat said earlier that Medco was reviewing (the possibility) to implement the CTD program in order to provide optimal production at a lower cost in the field (reservoir). According to him, his company gives priority to the safety of personnel and facilities at the work site in implementing the program.

Medco announced on November 17 of last year it had completed the acquisition of ConocoPhillips Indonesia Inc Ltd (CIIL) and ConocoPhillips Singapore Operations Pte. Ltd. (CSOP), both of which are subsidiaries of ConocoPhillips (COP).

CIIL, which is the operator of the South Natuna Sea Block B PSC with a 40 percent interest, is also the operator of the West Natuna Transportation System (WNTS). CSOP operates an onshore receiving facility in Singapore.

Medco President Director Hilmi Panigoro said earlier that Medco will try to maintain stable production of the newly acquired oil and gas asset. He added that with the acquisition, Medco will have a combined production capacity of 90,000 boepd, assuming that the South Natuna Sea Block B PSC can contribute around 28,000 boepd.

Editing by Reiner Simanjuntak