MEO reviewing farm-out plan on Seruway PSC

By Demas Simbolon

Australia-listed MEO Australia Ltd said it is reviewing a plan to bring in a farm-in partner for its Seruway block in northern Sumatra, which is operated by its wholly owned subsidiary Seruway Offshore Exploration Ltd.

In a presentation, MEO Australia said it may decide to farm out some of its interest in the Seruway PSC in the third quarter of the year to help speed up the development of the block.

Seruway Offshore owns a 100 percent working interest in the block, which includes two significant gas fields ? Gurame & Kuala Langsa ? together with a number of wells that have intersected and tested gas and condensate.

MEO Australia has just completed the Ibu Horst 3D seismic survey at the block over an area of 708 square kilometers and is now processing the data. This year it will drill one exploration well in the block in line with its commitment.

Editing by Dadan Wijaksana