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.

The West Belut-1, located in the South Natuna Sea Block B PSC, was spud on 28 September 2020, using the Vantage Drilling-owned Pearl Driller jack-up rig, previously known as Soehanah.

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.