MedcoEnergi Announces Hydrocarbon Findings At West Kalabau Exploration Well-1
JAKARTA PT Medco Energi Internasional Tbk or MedcoEnergi through its subsidiary, PT Medco E & P Rimau, managed to find hydrocarbons at the West Kalabau-1 exploration well located in the Rimau Block, South Sumatra, Indonesia.
President Director of PT Medco E & P Indonesia, Ronald Gunawan said, this positive result further strengthens MedcoEnergi's commitment to maintaining Indonesia's energy production by optimizing its potential assets.
"West Kalabau-1 wells are drilled to a total depth of about 3,220 feet, targeting the Baturaja Formation, which is a proven reservoir in the region," Ronald said as quoted on Wednesday, March 5.
He continued, the evaluation of the formation and initial analysis confirmed the existence of hydrocarbons, providing a solid basis for further development planning.
"The success of the discovery in West Kalabau-1 shows that the basins of mature in Indonesia still have the potential to be developed," Ronald continued.
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Later, Medco and SKK Migas will work together to further evaluate the commercial potential of this discovery and continue testing the wells.
"MedcoEnergy, together with SKK Migas, will continue testing additional wells and technical evaluations to further assess the size of the commercial potential and feasibility of these discoveries, which will serve as a guide for further development activities," he said.