Progress of Medco?s Block A construction reaches 15 percent
Thursday, July 7 2016 - 01:44 AM WIB
PT Medco E&P, a subsidiary of IDX-listed energy firm PT Medco Energi Internasional Tbk said the progress of construction at Block A PSC in Aceh has reached 15 percent.
?The progress has reached 15 percent. Next year, we?ll start drilling,? Medco E&P?s President Director Ronald Gunawan told Petromindo.com.
He said next year, the firm will drill around five HPHT (High Pressure High Temperature) wells along with six normal wells.
The block is expected to come onstream in the first quarter of 2018 with gas from the block to be channeled to state owned oil and gas firm PT Pertamina (Persero). The block is is 41.6 percent owned by Medco (operator) and 41.66 percent by KrisEnergy and 16.67 by Japex.
Editing by Johannes Simbolon