Medco to appoint EPC contractor for Block A facilities

IDX-listed PT Medco Energi Internasional Tbk plans to appoint the contractor for the engineering, procurement and construction (EPC) of the Block A facilities next week, company President Director and CEO, Lukman Mahfoedz, said.

?As for Block A, the EPC contractor selection process is being finalized. The contractor will be appointed next week,? Lukman Mahzoedz said.

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

He said Medco is currently focus on developing the Donggi-Senoro LNG project in Sulawesi, Block A in Aceh and Area 47 block in Libya. He said the Libyan project is progressing well with success ratio of 18 percent.

He said although there were political upheaval in Libya, Medco managed to maintain good relationship local authorities. He said the company has received approval from the Libyan government to begin the commercialization of the Area 47 block.

?Area 47 block has been declared to be ready for commercialization. We are now seeking to extend the contract to develop the area,? he said. (godang)