Medco: Construction progress of Block A PSC reaches 48%
Thursday, June 15 2017 - 05:01 AM WIB
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 48 percent.
?The overall project in block A has been completed up to 48 percent, and even its central processing plant (CPP) has reached 68 percent,? said Medco President Director Hilmi Panigoro to Petromindo.com.
He said that the block will stay on schedule for onstream on the first quarter of 2018. Its gas production is planned to be 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 Alexander Ginting