Medco set the platform in Gulf of Mexico
Medco Energi, the listed energy company controlled by Arifin Panigoro family, has set its first platform in the Gulf of Mexico.
Below is the statement from the company few minutes ago:
PT MedcoEnergi Internasional Tbk through its wholly owned subsidiary, MedcoEnergi US LLC, has successfully set its first new platform and facility in the Gulf of Mexico.
The new platform, located at East Cameron Block 318, approximately 105 miles SSW of Intracoastal City Louisiana, weighs over 1800 metric tons and sits in 229’ of water. The combination drilling and production facility carries 6 drilling slots; process facilities rated for 50 MMSCFD; 1400 HP of gas compression and quarters for 10 operators.
These quarters will serve as a hub headquarters to service other MedcoEnergi and third-party facilities in the area. MedcoEnergi US also anticipates improved run-time efficiency and more effective cost control at its nearby EC 317A facility as a result of this installation.
MedcoEnergi US is currently in the process of erecting a platform drilling rig, the Nabors Super Sundowner XIX, and anticipates beginning drilling operations in early August 2006.
MedcoEnergi US holds a 75% working interest and operates the East Cameron 318 development project. When fully developed, production from this project is expected to more than double the current MedcoEnergi US’s net gas production to over 30 MMSCFD.
Hilmi Panigoro, the CEO of MedcoEnergi, said “This measurable additional revenue-stream will make a noticeable contribution to MedcoEnergi’s continued operation and growth and produces a tangible, positive impact to our increasing role as an active mid-size energy company in the Gulf of Mexico.”
Dave Gibbs, MedcoEnergi US President, added “This project marks an important milestone for the new MedcoEnergi US team as we advance our strategy of mature field re-development in the shallow waters of the Gulf of Mexico.”
Lapindo mudflow
At home, Medco is in conflict with its partner Lapindo Brantas Inc over hot mudflow disaster from their Banjar Panji-1 drilling. Medco owns 32% working interest in the block, with Lapindo at 50% and Santos 18%. Lapindo is the operator of the block.
Lapindo argued the partners should bear the burden of the disaster, while Medco said it only share the burden if Lapindo could prove that it didn't violate the standard operating procedure (SOP) as the operator.
READ MORE!!!
Below is the statement from the company few minutes ago:
PT MedcoEnergi Internasional Tbk through its wholly owned subsidiary, MedcoEnergi US LLC, has successfully set its first new platform and facility in the Gulf of Mexico.
The new platform, located at East Cameron Block 318, approximately 105 miles SSW of Intracoastal City Louisiana, weighs over 1800 metric tons and sits in 229’ of water. The combination drilling and production facility carries 6 drilling slots; process facilities rated for 50 MMSCFD; 1400 HP of gas compression and quarters for 10 operators.
These quarters will serve as a hub headquarters to service other MedcoEnergi and third-party facilities in the area. MedcoEnergi US also anticipates improved run-time efficiency and more effective cost control at its nearby EC 317A facility as a result of this installation.
MedcoEnergi US is currently in the process of erecting a platform drilling rig, the Nabors Super Sundowner XIX, and anticipates beginning drilling operations in early August 2006.
MedcoEnergi US holds a 75% working interest and operates the East Cameron 318 development project. When fully developed, production from this project is expected to more than double the current MedcoEnergi US’s net gas production to over 30 MMSCFD.
Hilmi Panigoro, the CEO of MedcoEnergi, said “This measurable additional revenue-stream will make a noticeable contribution to MedcoEnergi’s continued operation and growth and produces a tangible, positive impact to our increasing role as an active mid-size energy company in the Gulf of Mexico.”
Dave Gibbs, MedcoEnergi US President, added “This project marks an important milestone for the new MedcoEnergi US team as we advance our strategy of mature field re-development in the shallow waters of the Gulf of Mexico.”
Lapindo mudflow
At home, Medco is in conflict with its partner Lapindo Brantas Inc over hot mudflow disaster from their Banjar Panji-1 drilling. Medco owns 32% working interest in the block, with Lapindo at 50% and Santos 18%. Lapindo is the operator of the block.
Lapindo argued the partners should bear the burden of the disaster, while Medco said it only share the burden if Lapindo could prove that it didn't violate the standard operating procedure (SOP) as the operator.
READ MORE!!!
posted by yosef at 12:45 PM
0 Comments:
Post a Comment
<< Home