Medco?s Kampar block contract to be extended until end of 2014
Tuesday, June 17 2014 - 12:40 AM WIB
IDX-listed PT Medco Energi Internasional Tbk?s contract on the Kampar block in Riau Province has been finally extended until the end of 2014, said a top official of the firm.
?We are trying to continue running the assigned task as well as possible,? Medco?s President Director Loekman Mahfoedz told Petromindo.com.
State owned oil and gas firm PT Pertamina is also interested in the block. However, Nanang S. Manaf, Vice President of Business Development at Pertamina Upstream Directorate, said to Petromindo.com there has been no response from the government even though the firm had sent a letter two times, asking to be appointed as operator in Kampar block.
Contract on the block expired on Nov. 27, 2013. The government then decided to make the Kampar block an ?open area? and put the block under the management of PT Medco EP Lirik, a subsidiary of Medco over a transitional period of six months, until the government appoints the definitive operator of the block.
Editing by Johannes Simbolon