Tag Archives | Indonesia

Medco signs Libya Oil Exploration Contract

The Libyan Investment Authority (LIA) has signed a contract with the Indonesian company Medco Energi extending the previous agreement relating to oil exploration in district 47. The signing was attended by the LIA Chairman and Chief Executive Dr. Ali Mahmoud, and Medco Energi’s General Manager in Libya Mr. Faisal Shita. Mr Shita said: “The initial […]

Medco may return to Libya

Mustafa Sanalla, NOC Chairman, has met with Indonesian Ambassador Raudin Anwar and his accompanying delegation at NOC Offices in Tripoli. Also attending were Abulgasem Shingheer, Member of the Board of Directors, Fathi Madi, Manager of Investment Department and Mr. Salah Ben Ali Manager of International Cooperation Office at NOC. The meeting discussed the mutual cooperation […]

Medco Energi Discovers Oil and Gas

Indonesia’s PT Medco Energi Internasional Tbk, through its subsidiaries PT Medco E&P Indonesia (Medco E&P) and Medco International Venture Limited (MIVL), reported on Monday that it has successfully explored and discovered additional oil and gas at the O2 well in Area 47, Libya. The O2 well was spudded on 23rd May and drilled to a […]

Foster Wheeler Wins Nafusah FEED Contract

Foster Wheeler has announced that a subsidiary of its Global Engineering and Construction Group, in joint venture with Taknia Libya Engineering Company (Taknia), has been awarded a front-end engineering design (FEED) contract by Nafusah Oil Operations B.V. Libyan Branch for an onshore oilfield development, known as the Area 47 Development Project in Libya. Area 47 […]

Medco says Area 47 Delayed 2 Yrs

Indonesia’s PT Medco Energi Internasional has said that production from its Libyan oil and gas project would not commence until 2016, two years behind an earlier target. A company spokesman told Reuters on Monday: “With the new government, we are now making preparations for the construction of production facilities. We have started talks with the […]

Medco Tender for 1500HP Drilling Rig

Medco International Ventures Limited (MIVL) intends to issue a Call for Tender for the supply of 1500HP Drilling Rig for Drilling Locations as described below: Location: Area 47 is located in Ghadames Basin, Libya, block 47, 300 km southwest of Tripoli. Project main objectives: Medco International Ventures Limited (MIVL), Operator for Area 47 in Ghadames […]

Medco Tender for 750HP Drilling Rig

Medco International Ventures Limited (MIVL) intends to issue a Call for Tender for the supply of 750HP Workover Rig for Drilling Locations as described below: Location: Area 47 (pictured) is located in Ghadames Basin, Libya, block 47, 300 km southwest of Tripoli. Project main objectives: Medco International Ventures Limited (MIVL), Operator for Area 47 in […]

Indonesia’s Medco Resumes Libyan Oil Exploration

Indonesia’s Medco Energi Internasional has announced that it will continue with plans to explore an oil field in Libya, and is preparing to establish a joint venture next month for that purpose. The “president director” Lukman Mahfoedz (pictured) said the company, through its subsidiary Medco International Venture Limited, would own 25 percent of the stake […]