By Romel S. Gurky
PT Medco Energi Internasional Tbk (MedcoEnergi) announced on Thursday that its subsidiaries, Medco Energi Thailand (Bualuang) Limited and Medco Energi Thailand (E&P) Limited, have successfully secured approval from the Government of Thailand for an extension of the production period for the Bualuang Oil Field (Block B8/38) in the Gulf of Thailand. The extension allows operations to continue until October 23, 2035.
Read also: Medco secures contract extension for Bualuang block in Thailand
The extended production period aligns with MedcoEnergi's strategic plan to enhance the Bualuang field’s output and maximize asset value. The company will focus on investments aimed at improving facility efficiency, including debottlenecking, workovers, development drilling, and near-field exploration, the company said.
The Bualuang field consists of three platforms producing oil to a leased FSO unit.
Editing by Reiner Simanjuntak
