Indonesian upstream independent, Medco Energi, set its 2013 oil and gas E&P budget at $419 million. Further out, it forecast its 2013-2015 capex budget would be around $1.1 billion.
Indonesia Project Updates
- Senoro Upstream, Central Sulawesi: Gas plant of 310 MMcf/d to be commissioned in Q3-2014; overall progress at 10%
- DSLNG Downstream, Central Sulawesi: LNG facility of 2 MT per annum targets first LNG by Q4-2014; Engineering, Procurement and Construction (EPC) progress at over 80%
- Block A, Sumatra: Gas field development of up to 60 MMcf/d with start-up planned for 2015-2016; main EPC tender negotiation near complete
- Rimau EOR Project, Sumatra: Started commissioning chemical injection in Kaji Semoga for improved recovery of up to 60 MMbbl starting 2015-2017
- Area 47, Libya: Oil field development of 50-100 Mbbl/d; 26 wells drilled with 18 wells discovering oil and gas; target declaration of commerciality of structures B, C and J by Q3-2013