Tunu fire causes no trouble on Medco?s revenues: Executive
Tuesday, March 5 2002 - 09:59 AM WIB
Publicly listed oil firm PT Medco Energi International Tbk said on Tuesday the fire which had hit the Tunu gas field in East Kalimantan would not trouble its revenues.
Medco?s financial director Sugiharto said the rig leased by Medco to French oil giant TotalFinaElf for its development wells in the Tunu field at the Mahakam delta had been damaged by the fire, but it had been insured.
The rig was built in 1992 and had ever since leased to TotalFinaElf Indonesie, Sugiharto said in his statement to the Jakarta Stock Exchange.
On Friday, a fire broke out the TotalFinaElf?s development well in the Tunu gas field due to a blowout. This forced the shutdown of seven wells which together produced 130 million cubic feet of gas a day for the Bontang LNG plant. (*)