KONTAN.CO.ID - JAKARTA. Local energy company PT Medco E&P Rimau, a subsidiary of oil and gas giant PT Medco Energi Internasional, will allocate up to 60 percent of the US$41.3 million from its working commitment scheme (KKP) for enhanced oil recovery at Rimau Block in South Sumatra. Medco E&P Indonesia president director Ronald Gunawan said on Thursday that enhanced oil recovery could maintain or even boost oil and gas production at the block. Energy and Mineral Resources Ministry data from 2018 show that average oil production at Rimau Block stood at 8,244 barrels of oil per day (bopd) and 3.68 million metric standard cubic feet per day (mmscfd).
Medco to spend up to $24.7m for enhanced oil recovery at Rimau Block
KONTAN.CO.ID - JAKARTA. Local energy company PT Medco E&P Rimau, a subsidiary of oil and gas giant PT Medco Energi Internasional, will allocate up to 60 percent of the US$41.3 million from its working commitment scheme (KKP) for enhanced oil recovery at Rimau Block in South Sumatra. Medco E&P Indonesia president director Ronald Gunawan said on Thursday that enhanced oil recovery could maintain or even boost oil and gas production at the block. Energy and Mineral Resources Ministry data from 2018 show that average oil production at Rimau Block stood at 8,244 barrels of oil per day (bopd) and 3.68 million metric standard cubic feet per day (mmscfd).