Medco to ramp up production from N. Sumatra, C. Sulawesi oilfields

Medco E&P, a subsidiary of JSX-listed oil firm Medco Energi Internasional Tbk. plans to ramp up crude production from North Sumatra and Central Sulawesi by the end of the year, a company official said.

Loekman Mahfoedz, President of Medco E&P told Petromindo.Com Tuesday that the company will drill 3 development wells in Tiaka oilfied in Senoro-Toili block Central Sulawesi this year, hoping to ramp up production from 1500 BPD currently to 5,000 BPD by year end.

He also said that Medco would drill two development wells in Langsa TAC offshore North Sumatra in the fourth quarter of this year with the aim of more than double crude production to 4,000 BPD next year.

Elsewhre, he said Medco had commenced first exploratory drilling in Nunukan PSC, Offshore East Kalimantan. The well is called Serban-3 well. The Nunukan PSC was awarded to Medco in 2004. (alex)