Vico to intensify exploration to find new gas sources

East Kalimantan gas producer Vico Indonesia said it was planning to conduct further exploration drillings at its working areas in an effort to find new gas sources to prevent the company’s gas production from declining.

“We have conducted studies in Vico’s working areas to determine new prospects since the beginning of this year,” vice-president Amri Siahaan told Petromindo.Com in Balikpapan Monday.

He did not elaborate when the study was expected to be completed.

According to Amri, Vico Indonesia produced 900 million standard cubic feet per day of gas and around 30,000 barrels per day of condensate. Vico is the second largest gas supplier to Bontang LNG after French oil giant Total SA.

Vico’s gas fields are maturing fields, now operating on declining mode.

Vico is the operator of Sanga-Sanga PSC. Italy’s Eni and Anglo-American energy giant Bp Plc. equally own Vico Indonesia.

Vico has four major gas fields in Sanga-sanga PSC, namely; Semberah,Badak,Nilam dan Mutiara. Siahaan also said Vico is currently conducting a study to determine areas that it would relinquish. (godang)