Rig sharing pact cuts costs in Indonesia

Medco Energi, which operates South Natuna Sea Block B, will share a jack-up drilling rig with four other operators offshore Indonesia as part of a pact that will save millions of dollars.

Medco signed a contract amendment with Vantage Drilling that will allow it to jointly use the jack-up rig Soehanah, which is currently drilling for Premier Oil.

Under the amended contract, Medco will jointly use the rig with Harbour Energy company Premier Oil, Mubadala Petroleum, KUFPEC and Petronas Carigali to drill 12 development wells, 1 workover well and five exploration wells, reported Petromindo.