PHE WMO postpones drilling program

By Febry Silaban

PT Pertamina Hulu Energi West Madura Offshore (PHE WMO) has postponed drilling plan of six wells in the West Madura Offshore PSC in East Java from this year to next year due to the falling oil prices.

"For next year we plan to drill six development wells and one exploration well in the north western part of the Madura island," PHE WMO's President/GM Boyke Pardede told Petromindo.com.

According to Boyke, for this year, PHE WMO has substantially reduced drilling activities, exploration, and facilities development.

Initially, the firm planned to drill six wells this year, including one exploration well. The firm has thus far completed the drilling of two wells, postponed the drilling of four other wells to next year.

PHE WMO also postponed a 3D seismic activity, which is supposed to be carried out this year, he added.

Editing by Johannes Simbolon