Medco suspends production in Yemen

By Febry Silaban

IDX-listed energy company PT Medco Energi International Tbk has been forced to suspend production activities at its blocks in Yemen due to worsening political situation in the Middle Eastern country, according to a top official of Medco.

?As a result, Medco?s production will decline but not much, because it (the production loss in Yemen) will be compensated by production from other blocks,? President Director of Medco Lukman Mahfoedz told Petromindo.com without providing further details.

In addition to Yemen, Medco has a number of oil and gas assets overseas including in Tunisia, Libya, Oman, Papua New Guinea, and the Gulf of Mexico off the US coast. It also operates nine oil and gas blocks in Indonesia. The Medco Group also owns several gas-fired and coal-fired power plants that supply electricity to state utility company PT Perusahaan Listrik Negara (PLN).‪

Editing by Johannes Simbolon