Medco to produce 3,000 barrels of oil in Tunisia

Rangga D. Fadillah, The Jakarta Post, Jakarta | Mon, 05/09/2011

Medco Tunisia Anaguid, a subsidiary of Indonesia’s largest private oil and gas firm, PT Medco Energi Internasional (MEI), plans to produce around 3,000 barrels of oil per day (bpd) at the Durra field in Tunisia.

MEI president commissioner Hilmi Panigoro said on Monday that the company expected the production to kick off in June this year.

“We hope to begin producing oil in June while continuing to test how many barrels we can produce at the block daily in the long-term,” he told reporters on the sidelines of the US-Indonesia Energy Investment Roundtable in Jakarta.

Medco Tunisia Anaguid holds a 20 percent stake in the Durra block while the remaining 80 percent is owned by OMV Anaguid and Tunisian state-owned oil and gas company Tunisienne d’Activites Petrolieres, with 30 percent and 50 percent stakes respectively.