Medco's subsidiary agrees to apply EOR technology

PT Exspan Petrogas Intranusa, a subsidiary of national oil and gas company PT Medco Energy Corporation, had signed a memorandum of understanding to set up a joint venture with PT Sarana Chalimutama to provide enhanced oil recovery (EOR) technology on Medco's oil fields, Bisnis Indonesia and Detikcom reported.

President of Medo John S. Karamoy said the technology aimed at increasing the oil output of Medco's depleted oil fields up to 40 percent.

He said the EOR technology to be applied in the company's oil fields was called vibro seismic impact technology (VSIT), which has been tried in the oil fields of Caltex Pacific Indonesia in Riau with positive indications. (*)