Medco to spend US$130m to increase output
Monday, June 4 2001 - 03:54 PM WIB
Local oil and gas company Medco Energy said it had allocated US$130 million to increase its output to 80,000 barrels per day (bpd) from 75,000 bpd this year.
Company president John S. Karamoy told Petromindo. Com Tuesday on the sidelines of the seminar on gas on Tuesday most of the fund would be spent to increase the output of its oil fields in South Sumatra.
The company is listed on the Jakarta Stock Exchange. (Epin)