MNC Investama to drill two wells at Semai III block in 2014

By Godang Sitompul

IDX-listed PT MNC Investama Tbk is planning to drill to wells in the Semai III oil and gas block in Papua next year, said Indro Purnawan, Head of Exploration division at upstream authority SKK Migas.

Indro, however, said that MNC Investama, which is owned by media tycoon Harry Tanoesoedibjo, is currently waiting for the decision of the Minister of Energy and Mineral Resources Jero Wacik over the company?s request for an extension in the exploration period.

?MNC Investama has a commitment to drill two additional wells and must be made in 2014. But they have requested to the minister for an extension of the exploration period,? Indro told Petromindo.com Tuesday.

Harry is running as vice presidential candidate in the upcoming 2014 election, pairing with presidential candidate (ret) Army General Wiranto of the Hanura Party.

As reported by this portal in May, MNC Investama, lacking experience, was seeking for more experienced partners to develop the Semai III block, which was acquired from PT Suma Sarana two years ago.

Editing by Reiner Simanjuntak