Medco E&P signs deal to utilize land in Arun complex
Wednesday, March 15 2017 - 01:17 AM WIB
Upstream company PT Medco E&P Malaka signed on Tuesday a joint operation agreement (KSO) with the Ministry of Finance?s State Asset Management Institution (LMAN) for the utilization of land at the former Arun LNG plant complex belonging to state-owned PT Arun NGL in Aceh.
Medco said in a statement that the five-year agreement will allow the company to utilize some 14,485 square meters of land at the Arun complex in Blang Lancang Village, Muara Satu District, Lhokseumawe City, where Medco will build a receiving facility for condensate and sulfur produced at wells in Block A, East Aceh.
Under the KSO agreement, Medco will shoulder the entire agreed expenses for the utilization of the land.
Medco said that the KSO forms part of stages taken by the company to start gas production at Block A.
Editing by Reiner Simanjuntak