Medco may produce 6,000 bpd by Q1

Medco may produce 6,000 bpd by Q1

JAKARTA: PT Medco Energi Internasional, Indonesia's biggest publicly traded oil company, said it expects production from a field off the coast of East Aceh on Sumatra Island to produce as much as 6,000 barrels of oil per day by the first quarter.

The first cargo of oil produced at the Langsa field totaling 200,000 barrels was sent to PT Pertamina's Balikpapan refinery in East Kalimantan on Jan. 7, Medco said in an e-mailed statement.

The field started commercial production on Nov. 7.

Sumatra's Aceh province took the full brunt of the earthquake and tsunami of Dec. 26 which swept across the Indian Ocean, killing tens of thousands in Thailand, Sri Lanka and as far way as Somalia in Africa.

Medco Moeco Langsa Ltd., a joint venture between Jakarta- based Medco and Japan's Mitsui Oil Exploration Co., has a 70 percent share of the Langsa field, the statement said. -- Bloomberg