Medco hopes to sign GSAs with PIM, PAU in January
Friday, January 10 2014 - 04:14 AM WIB
IDX-listed PT Medco Energi International Tbk said that it is speeding up the ongoing gas sales negotiations with PT Pancara Utama (PAU) and state-owned fertilizer firm PT Pupuk Iskandar Muda (PIM).
Corporate Secretary Imron Gazali told Petromindo.com Friday that the gas sales agreements (GSAs) with the two firms were expected to be signed in January of this year.
The company is planning to sell gas from Matang field in Block A in Aceh to PIM, and from Senoro-Toili gas field in Central Sulawesi to PAU.
As reported by this portal earlier, than the gas sales agreement with PIM would become the basis for the final investment decision (FID) of the Block A, which is operated by Medco?s subsidiary PT Medco EP Indonesia, with a participating interest of 41.67 percent. Other partners are Premier Oil (41.67 percent), and Japex (16.66 percent).
Editing by Reiner Simanjuntak