MedcoEnergi granted Bualuang field production period extension

PT Medco Energi Internasional Tbk (MedcoEnergi) subsidiaries Medco Energi Thailand (Bualuang) Ltd. and Medco Energi Thailand (E&P) Ltd. have received approval from the Government of Thailand for an extension of the production period for Bualuang oil field (Block B8/38) in the Gulf of Thailand.

The production period has been extended until Oct. 23, 2035.

In a release Aug. 21, MedcoEnergi said its long-term development plan aims to “enhance Bualuang's production and maximize asset value through investment in facility debottlenecking, workovers, development drilling, and near-field exploration.”

MedcoEnergi serves as opertor of the field, which consists of three platforms producing to a leased floating storage and offloading (FSO) vessel.