Indonesian energy company PT Medco Energi Internasional announced Tuesday it had found a larger oil reserve in a well in Libya. Medco's subsidiary Medco International Ventures Limited (MIVL) found the additional reserve in its well in Area 47 block, Medco Energi President Darmoyo Doyoatmojo said.
It was the 14th discovery since MIVL, the operator of the block, started drilling in the block in 2006, Darmoyo said. He said in a test last month the well turned out 1,790 barrels of crude oil and 2.3 million standard cubic feet of gas per day.
