Potential Oil & Gas Reserve Awaits Medco E&P 3D Seismic at Kaci Field
The Upstream Oil and Gas Business Regulatory Task Force (SKK Migas) revealed that Medco E&P Natuna started a 3D seismic survey covering 270 square kilometers at the Kaci South Natuna Sea Block B Field on September 29, 2021. The seismic survey was carried out to seek new oil and gas reserves, Energy Voice reported.
Medco E&P Natuna parent entity PT Medco Energi Internasional Tbk has allocated US$150 million for upstream oil and gas activities in 2021. "Most of which will be allocated to South Natuna Sea Block B," Medco's VP Corporate Planning & Investor Relations Myrta Sri Utami said in early September. Last year, Medco discovered additional oil and gas reserves in the Terubuk-5 exploration well. From the drilling results, Medco found 2,287 barrels of oil per day (bopd), 32.89 million cubic feet of gas per day (MMscfd), and 304.1 barrels of condensate per day (bcpd).