Husky to complete FEED for Madura Straits PSC mid-2006

Canadian oil and gas firm Husky Energy Inc. reported Monday that front-end engineering design for development project of the Madura Strait production sharing contract (PSC) offshore East Java is approximately one-third completed.

?This stage, which is expected to be completed by mid-2006, will be followed by a revised "Plan of Development", execution of a natural gas sales contract and application to extend the PSC with a view to project sanction,? the company said in its fourth quarter results of 2005.

Husky earlier said it would spend C$75 million to advance engineering and development plans for the Madura BD gas field of the PSC in 2006.

Husky is the operator with 100 percent interest holder of the PSC. (Robert)