Oil production in Tarakan block rising
Monday, September 21 2015 - 01:54 AM WIB
PT Medco E&P Indonesia, a subsidiary of IDX-listed PT Medco Energi Internasional, has managed to increase the oil production of the Tarakan block in North Kalimatan to 1,940 bopd.
?In 2014, Tarakan produced 1,900 barrels of oil per day. Currently, the block produces about 1,940 bopd,? Medco's Corporate Secretary Imron Ghazali told Petromindo.com.
As reported by this portal last April, the firm can currently operate the block more efficiently by optimizing field activities; increasing well capacity by carrying out workover programs and installing Artificial Lift ESP pumps; and servicing production wells.
The firm delivers gas from the block to household consumers and the power plant owned by state-owned PT Perusahaan Listrik Negara (PLN) in Tarakan. There are 3,360 households in two districts of the city now receiving gas from Medco?s Tarakan block.
The block?s reserve has much declined since Medco took over the operatorship of the block from state owned oil and gas firm PT Pertamina back in 1997. The firm drilled two exploration wells and three development wells in 2013 and 2014 in order to maintain the block?s production.
Editing by Johannes Simbolon