Medco to commence C. Sulawesi crude production this month

Medco E&P, a unit of JSX-listed Medco Energio Inetrnational Tbk. Said on Friday it would commence crude production from Tiaka filed in Senoro-Toili JOB block in Central Sulawesi later this month.

Company president Loekman Mahfoedz said in Surabaya that the field is expected to produce 2,500 BOPD in the beginning, ramping up to 4,000 BOPD by the end of the year.

?Tiaka is a confirmation that Senoro-Toili block has crude potential. It would encourage us to further explore the block to find oil,? he said. Medco, he said would drill one onshore exploration well in then block later this year.

Apart from oil reserves, the block has some 2.5-3TCF of natural gas reserves, which the company envisioned become feedstock for fertlizer complex and mini-LNG plant. (alex)