Medco:Oil Reserves in Area 47 of Libya Reaches 2.15 B Barrels

A recent audit found that oil reserves controlled by Indonesia's Medco Energi Internasional and partner in Area 47, Libya, reached 2.15 billion barrels or 36% higher than the previous estimate.



Medco operation director Lukman Mahfoedz said development plan of the deposit could be implemented as scheduled that it could start production early next year. The oil deposit is controlled by Medco in cooperation with Verenex Energy as the operator, the newspaper Bisnis Indonesia said...more...