TEMPO Interactive, Jakarta: Medco International Ventures Limited, a subsidiary of PT Medco Energi Internasional Tbk., has completed the testing of the flow of light sweet crude oil at four exploration mines in Area 47, Libya. The test results, according to Andi Karamoy, MedcoEnergi's Company Secretary, were good. This means they are the same as the A1-47/02 mines results, which reached a maximum combination level of 12,500 barrels of oil per day (gross). Andy said that it was expected the reserves in Area 47 sould strengthen the company's portfolio. And also be able to make a significant contribution to all of MedcoEnergi's performance in the future, he said in a press statement on Wednesday (11/7).At the B1-47/02 exploration mine, Verenex Energy Inc, which is the operator, has also completed flow testing at perforations of 312 feet deep at five reserves in the Lower Acacus and Middle Acacus formations. The light sweet crude oil flow level exceeded the level that was reached by the A1-47/02 mine.Medco International Ventures Limited and Verenex each own 50 percent of Area 47. Verenex is an international oil and natural gas exploration and production company which is based in Canada.Wahyudin Fahmi
