Medco says construction progress at Block A reaches 55%

IDX-listed energy company PT Medco Energi Internasional Tbk announced Tuesday that construction progress at Block A PSC in Aceh Province has reached about 55 percent as per August of this year.

Medco said in a statement that the main focus of the project is now completing construction of the production facility. It did not disclose the construction progress of the central processing plant, which in June the company said had reached 68 percent.

?Currently, Medco E&P Malaka together with the contractor are making efforts to meet the target (to start) gas production at Block A in the first quarter of 2018,? the statement said, referring to subsidiary of Medco Internasional. No further details were provided.

The block is 85 percent owned by Medco E&P (operator) and 15 percent by KrisEnergy Ltd.

Editing by Reiner Simanjuntak