Medco, Lundin hope to extend S. Sumatra block contract
Thursday, January 26 2012 - 03:39 PM WIB
By Alexander Ginting
Swedish oil, gas firm Lundin Petroleum AB said on Thursday that discussion to extend contract of Lematang gas block onshore South Sumatra has been ongoing.
The block?s contract will expire in 2017, the company reported. It did not give further detail.
The Lematang PSC contains the Singa gas field, which produces around 50 MMCFD with the entire volume sold to state gas distribution firm PT PGN (Persero).
Indonesia-listed energy firm PT Medco Energi Internasional Tbk is the block?s operator with 74 percent interest with the balance held by Lundin.
Editing by David Mustakim