MEO to submit PoD on South Madura PSC next year

By Romel S. Gurky

As the current contract of South Madura PSC is nearing its end date, operator Australia-listed firm MEO Australia Limited is preparing and will submit a Plan of Development (PoD) on the block before the 13 October 2013 expiry date.

MEO said in a statement that the 10th and final contract year ends on 13 October 2013. ?At the conclusion of the 10th contract year, there is an obligation to relinquish the South Madura PSC unless a Plan of Development (POD) has been submitted.?

The work program over the past nine years has consisted of 2 exploration wells, seismic acquisition and processing and geological and geophysical studies.

The year ten program meanwhile consists of four wells and the completion/lodgement of a PoD.

MEO has a 90 percent participating interest in the block.

Editing by Dadan Wijaksana