Medco Energy plans to acquire Baturona and Astaka

By Bernard Loebs

PT. Medco Energi Mining Internasional, a subsidiary of IDX-listed energy concern PT Medco Energi Internasional Tbk plans to acquire coal mines Baturona Adimulya and Astaka Dodol both are having concessions in Musi Banyuasin Regency, South Sumatra, sources told Petromindo.com.

It is not clear the total of cost for the acquisition.

President Director Medco Energi CBM Indonesia, Pudjo Suwarno said that he did not know the progress of acquisition process.

Baturona is part of Uresources Group. The mine has concession covering 25,000 hectares with production operations phases.

Astaka which is part of Ucoal has concession of 25,000 hectares. Astaka is divided into 3 major blocks namely A with an area of 9,516 ha in village of Sanga district, the block B has 9,158 ha and C with 6,326 ha in Babat Toman district.

Editing by Adianto P. Simamora