Medco to re-enter E. Java Sebaya-1 well mid-2002
Friday, January 11 2002 - 03:06 AM WIB
Australian firm CityView Corporation Limited reported on Friday that its joint venture partner and the operator of Madura exploration block in East Java, PT. Medco Energi Internasional Tbk. planned to re-enter Sebaya-1 exploration well in mid-2002 with equipment capable of withstanding well pressures.
Medco was earlier forced to stop drilling because the rig could not stand pressures from the well.
State oil and gas firm Pertamina has 35 percent interest in Madura JOB, while CityView, Medco and Falcon Oil Pte. Ltd hold 16.25 percent, 24.75 percent and 24 percent, respectively.
CityView is free carried by Medco throughout the drilling of this well and has a gross 25 percent interest in all production there-from.(alex)