MedcoEnergi has explored and discovered further oil and gas from two wells located in Indonesia and Libya respectively.
Located in South Sumatera Block, Indonesia, the Hijau-2 well was drilled to a vertical depth of 5,695ft.
The well proved a 35m gas column in the Baturaja limestone formation and a drill stem test confirmed a gas flowrate of 5.05 million standard cubic feet per day via a 24/64 inch choke.
The second well, dubbed O2, is located in Area 47, Libya. It was drilled to a total depth of 10,780ft.
Initial tests demonstrated the well flowing 3,300 barrels of oil per day and 140,000 standard cubic feet per day of gas through a 48/64 inch choke in the Top Lower Akakus formation.
MedcoEnergi president director and CEO Lukman Mahfoedz said: "These successes prove our Company’s strong capability in exploration with more and more discoveries of new oil and gas resources in Indonesia as well as overseas.
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By GlobalData"This achievement will contribute to MedcoEnergi’s growth by adding oil and gas reserves and increasing the Company’s reserve life index."
The Government of Libya recently declared the commerciality of B, C and J structures in Area 47.
MedcoEnergi, with its partners National Oil Corporation Libya and Libyan Investment Authority, will start the development together with the A, D and F structures, which were declared commercial in 2011.
The combined oil and gas recoverable reserves are expected to be 250 million barrels of oil equivalent.
Image: Gas flaring during the Hijau-2 well testing. Photo: Courtesy of MedcoEnergi.
