Medco ready to supply gas to Pusri
Monday, January 23 2006 - 02:01 AM WIB
PT Medco E&P has reached an initial agreement with fertilizer producer PT Pupuk Sriwijaya in Palembang, North Sumatra to supply about 45 million standard cubic feet per day ( MMSCFD) to the state owned fertilizer producer, Investor Daily reported.
Lukman Mahfoedz, the president director of PT Medco E&P, said in Jakarta Monday that the gas supply contract which would be worth US$130 million would be finalized within the next few weeks.
"We have reached an initial agreement on the contract. But we need another few weeks to finalize the price of the gas that would be sold to Pusri," he added.
The contract is one of the nine gas supply contracts signed in Jakarta last week. Besides, the contract with Pusri, Medco also reach an agreement to supply gas to other buyers including PLN, PGN and BUMD Sumsel with total contracts worth about US$637 million. (*)