Medco sets Q2 for Block A?s EPC tender completion

PT Medco Energi Internasional, Indonesia?s biggest listed oil and gas firm, announced that the EPC tender for Block A facilities in Aceh is going as scheduled and expects to secure the Final Investment Decision by the second quarter of 2012.

Last year, the government extended the contract on the block for another 20 years. The block is 41.67 percent owned by Medco, which also acts as operator, in partnership with British company Premier Plc (41.67 percent) and Japanese firm Japex (16.67 percent).

Block A is one of major projects currently being developed by Medco, both at home and overseas. Other projects include the Donggi-Senoro LNG project in Sulawesi and Area 47 in Libya.

At present, Medco produces around 70,000 barrels of oil equivalent per day from its domestic and international operations.

Editing by Dadan Wijaksana