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MedcoEnergi announces first oil from Bualuang concession

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Oilfield Technology,

PT Medco Energi Internasional Tbk (MedcoEnergi) has announced first oil from the Phase 4B Development Project on the 100% owned Bualuang concession in Thailand.

The project is located in the Gulf of Thailand and comprises a new bridge-linked wellhead platform structure along with the retrofitting of extension structures to the existing platforms. Initial production rates at 12 900 bpd have exceeded expectations and upon the completion of the drilling programme in mid-2020 field production is expected to peak at over 14 000 bpd.

Roberto Lorato, CEO, said: “I am pleased to report that the Phase 4B Development Project has reached first oil, with drilling performance 70 days faster than planned. Especially pleasing is that the project was safely handed over from Ophir in May without safety incident or disruption. Our integration of Ophir Energy plc is proceeding well, with total recurring synergies of around US$50 million per year already identified.”

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