Wilayah Operasi Minyak dan Gas Internasional International Oil and Gas Operating Areas
Pada 1 April 2010, Perseroan melalui Medco International Ventures Limited, anak perusahaan telah mendapatkan kepercayaan sebagai operator selama
masa eksplorasi menggantikan Verenex Energy Area 47 Libya Limited (VEAL). Perseroan juga mendapatkan perpanjangan satu tahun masa eksplorasi per 1 April 2010 dengan program kerja 2010 berupa penyelesaian pemboran dua sumur kajian, tiga sumur eksplorasi dan pengujian 3 sumur yang telah dibor sebelumnya.
The Company and its partner, Verenex Energy Inc. (Verenex), were awarded the rights to explore Area 47 in the Ghadames basin, in northwestern Libya in January 2005 and signed an Exploration and Production Sharing Agreement with the National Oil Company of the Great Socialist People’s Libyan Arab Jamahiriya in March 2005. Verenex was appointed as the Operator of Area 47.
In early 2008, the Company declared the Libyan Oil Development Project as one of the Company’s Key Development Projects.
As at year end 2009, total number of wells drilled include 21 wells, which consist of 17 exploration wells and four appraisal wells. From 21 wells drilled, the Company found 14 discovery wells while 4 wells expecting test results; this result shows over 80% exploration success ratio.
Since 2005, 1,700 km per square of 3D seismic and 4,000 km of 2D seismic has been conducted to support the analysis on existing “prospect and lead” in order to achieve better exploration program success ratio. The D&M certification dated September 30, 2008 shows that Area 47’s reserves consisting of 307 MMBbls and 269 BCF or total oil and gas equivalent of 352 MMBOE.
In December 21, 2009, Libyan Investment Authority (LIA) acquired Verenex Energy Inc. in Area 47 EPSA, resulting in LIA has 50:50 working interest with MedcoEnergi in the Area 47 exploration block. LIA is an investment company which fully authorized and established by the Libyan government in 2008 to manage Libya’s excess oil revenues, with current assets of more than US$65 billion.
In 2009, the Company drilled three wells and tested two exploration wells resulted in statisfactory condition.
In April 1, 2010, the Company through Medco International Ventures Limited, a subsidiary company, that was appointed as the operator for the exploration phase replacing Verenex Energy Area 47 Libya limited (VEAL). The Company has also been awarded a contract extension since April 1, 2010 with its 2010 working program of finalizing two appraisal wells, three exploration wells and testing three wells previously drilled.
Negara Country Libya Jenis kontrak Type of contract PSC Luas wilayah (km2) Areas 6,182
Masa akhir kontrak
Contract expiry 2030
Pemegang hak partisipasi
Participating interest Medco International Ventures Ltd - 50%; Verenex Energy Area 47 Ltd - 50%
Operator Verenex Energy Area 47 Ltd
Status Eksplorasi | Exploration
Area 47, Masyarakat Sosialis Akbar Arab Jamahiriyah Libia Area 47, the Great Socialist People’s Libyan Arab Jamahiriya
Perseroan mengakuisisi 40% hak partisipasi melalui Perjanjian Convention, Permit and Joint Operating yang berkaitan dengan Blok Anaguid di Tunisia dari Anadarko Tunisia Anaguid Company, efektif pada tanggal 12 Juni 2007. Pioneer Natural Resources Anaguid Ltd. adalah operator dari blok ini. Di tahun 2009, Perseroan telah menyelesaikan evaluasi teknis atas hasil seismik 3D seluas 900 kilometer persegi yang dilakukan pada tahun 2008 dan juga menyampaikan rencana pengembangan eksploitasi dari sumur Dura. Sementara, satu sumur tambahan akan dilakukan pemboran pada tahun 2010.
Rencana ke Depan
MedcoEnergi akan menerapkan sistem dan pengendalian serta terus mencari nilai untuk merealisasi peluang-peluang baru di industry minyak dan gas luar negeri.
Libia dan Tunisia. MedcoEnergi akan terus menjajaki dan merampungkan rencana pengembangan pertamanya di Blok 47 di Libia. MedcoEnergi juga berencana menilai lebih lanjut potensi Blok Anaguid di Tunisia dengan membor satu prospek. Beberapa tonggak keberhasilan perlu diraih di tahun 2010, termasuk diantaranya persetujuan Program Kerja dan Anggaran untuk tahun 2010, memperoleh pernyataan Komersial serta mendapatkan perpanjangan periode eksplorasi dan dimulainya kembali pemboran di Area 47.
Kamboja dan Yaman. MedcoEnergi berencana melakukan farm out dari blok di Kamboja dengan biaya minimum dan melakukan seismik tambahan 3D atau 2D serta melaksanakan kegiatan-kegiatan eksplorasi lainnya untuk blok di Yaman.
Oman. MedcoEnergi berencana melakukan pemboran 51 sumur tambahan selama lima tahun kedepan. tudi lebih lanjut akan dilakukan dengan aplikasi teknik penemuan kembali yang lebih canggih. MedcoEnergi akan melanjutkan program pemboran dan memprakarsai studi penemuan kembali sekunder untuk memenuhi target produksi.
Amerika Serikat. MedcoEnergi selalu bekerja menurut strategi perencanaan berlapis, dimulai dengan Lapisan Satu menggambarkan aset-aset yang ada, yang dimaksudkan untuk mengoptimalkan produksi
The Company acquired a 40% equity participating interests in the Convention, Permit and Joint Operating Agreement relating to the Anaguid Block in Tunisia from Anadarko Tunisia Anaguid Company effective on June 12, 2007. The block is operated by Pioneer Natural Resources Anaguid Ltd. In 2009, the Company completed the processing and interpretation of seismic data from additional 900 square kilometers of 3D seismic and delivered the exploitation plan for the Dura well. Meanwhile, one additional well exploration drilling will be conducted in 2010.
Forward Plans
MedcoEnergi will implement Company wide systems and controls and continue to seek value realising opportunities in international oil & gas industry.
Libya and Tunisia. MedcoEnergi will continue to explore as well as finalise the first development plan of Block 47 in Libya. MedcoEnergi also plans to further appraise the Anaguid Block potential in Tunisia by drilling one prospect. In 2010, certain milestones are to be achieved by the joint venture including approval of the Work Program and Budget for 2010, obtaining declaration of Commerciality, obtaining exploration period extension and the recommencement of a drilling program in Area 47.
Cambodia and Yemen. MedcoEnergi plans to farm out with minimum costs from Cambodia’s blokcs and acquire either new or additional 3D or 2D seismic as well as undertake other exploration activities in Yemen Blocks.
Oman. MedcoEnergi plans to drill 51 additional wells during five years. Further study work will be conducted on the application of enhanced recovery techniques. MedcoEnergi will continue the drilling programs and initiate secondary recovery studies to meet production targets.
USA. MedcoEnergi has always worked on a layered planning strategy, starting with Layer One which represents existing assets from which it intends to optimize production and where possible to develop incremental Negara
Country Tunisia
Jenis kontrak
Type of contract Konsesi
Luas wilayah (km2)
Areas 5,716
Masa akhir kontrak
Contract expiry 2022
Pemegang hak partisipasi
Participating interest Medco Tunisia Anaguid Ltd - 40%; Pioneer Natural Resources Anaguid Ltd - 60%
Operator Pioneer Natural Resources Anaguid Ltd
Status Eksplorasi | Exploration
Blok Anaguid, Republik Tunisia Anaguid Block, Republic of Tunisia
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dan mengembangkan peningkatan tambahan produksi jika memungkinkan. Lapisan Dua menggambarkan peningkatan kecil tambahan aset tunggal untuk mendukung produksi, mencegah penurunan produksi, dan meningkatkannya jika memungkinkan. Lapisan Tiga menggambarkan identifikasi peluang-peluang proyek yang lebih besar dimana MedcoEnergi United States (MEUS) menambah cadangan dan produksi potensial melalui rehabilitasi dan pengembangan kembali wilayah lapangan yang lebih tua. Lapisan Empat menggambarkan akuisisi perangkat aset yang lebih substansial, yang secara efektif akan menata kembali MEUS dan memberi landasan pertumbuhan yang lebih cepat. Lapisan Lima menggambarkan peluang-peluang yang melampaui sumber daya keuangan MEUS, sehingga memerlukan partisipasi dengan para mitra kerja strategis di mana MEUS menawarkan kemampuan dan pengalamannya sebagai operator. Penekanan operasional pada tahun 2009 akan tetap pada pelaksanaan Lapisan Satu, Dua, dan Tiga. Sementara itu Manajemen akan terus mencari dan mengevaluasi peluang-peluang Lapisan Empat dan Lima. Penekanan Manajemen adalah pada produksi dengan biaya efektif bukan produksi dengan biaya berapa pun.
production gains. Layer Two represents small incremental single asset gains to bolster production, and offset decline where possible. Layer Three represents identification of larger project opportunities in which MedcoEnergi United States (MEUS) adds reserves and production potential through older field area rehabilitation and redevelopment. Layer Four represents acquisition of a more substantial set of assets which would effectively resize the MEUS Company and provide a faster growth platform. Layer Five represents opportunities beyond the financial resources of MEUS, requiring participation with strategic partners where MEUS brings to bear its capabilities and experience as operator.
Operational emphasis in 2009 will be maintained in executing Layers One, Two and Three. Meanwhile management will continue to seek and evaluate Layers Four and Five opportunities. The management emphasis will be on cost effective production not production at any cost.
