Construction progress of Block A PSC reaches 30%

By Thomas Sembiring

Petromindo|Khalsa

IDX-listed energy company PT Medco Energi Internasional Tbk said that construction progress at Block A PSC in Aceh Province operated by subsidiary PT Medco E&P has reached 30 percent.

?Today (construction progress) it is probably around 30 percent. The peak will be in 2017. First quarter of 2018, God Willing, (will start production),? said Medco President Director Hilmi Panigoro last week.

The block is expected to come onstream in the first quarter of 2018 with gas from the block to be LED Lighting Wholesale channeled to state owned oil and gas firm PT Pertamina (Persero). The block is is 41.6 percent owned by Medco (operator) and 41.66 percent by KrisEnergy and 16.67 by Japex.

Editing by Reiner Simanjuntak