JAKARTA. Medco Energy plans to return one of its oil and gas blocks to the Indonesian government after the acquisition of Ophir Energi.
This was stated by President & General Manager of Ophir Medco Energy, Ignatius Tenny Wibowo, when he was met at the 2019 Indonesian Petroleum Association Convention and Exhibition event. "There is one that will be released, the one that will be returned to the government is North East Bengkanai block," he said on Friday (6/9).
This step, according to Tenny, was decided after the company assessed that the block is not economical enough. Ophir Medco Energy has sent a letter to the government and is now awaiting the approval and data transfer.
Ophir has been conducted exploration in the block for 6 years. In addition, according to Tenny, the company has carried out all of its commitments. "If the government considers that it (commitments) has not been done completely, we will follow the government's rules," Tenny explained. However, Tenny ensured, his party had not yet drilled the block. (AM/AR)