Medco confirms hydrocarbons with Indonesian appraisal well
Indonesian oil and gas company Medco Energi has completed drilling operations on the West Belut-1 appraisal well, located offshore Indonesia, and confirmed hydrocarbon resources.
Medco said in a recent exploration report that the West Belut-1 appraisal well had successfully confirmed hydrocarbon resources with 5 DST. Post drill analysis is ongoing and the company will continue the post-drill evaluation in the period ahead.
Four commercial exploration gas discoveries were made in South Natuna Sea Block B PSC with the Bronang-2, Kaci-2, West Belut-1 and Terubuk-5 wells.
Medco said at the end of November that these discoveries will be fast-tracked for development in 2021-22 in parallel with the previously planned Hiu development.
The West Belut-1 was the last well in Medco’s 2020 drilling campaign. The exploration costs (gross) for the well totalled $35.5 million.
The South Natuna Sea Block B PSC is operated by Medco E&P Natuna with a 40 per cent interest with partners Medco Daya Abadi Lestari holding 35 per cent and Prime Natuna Inc holding the remaining 25 per cent interest.