JAKARTA (Yosefardi) – Oil and gas company PT Medco Energi Internasional Tbk (MEDC) intends to acquire new oil and gas blocks in Oman, Middle East. MEDC has for 10 years made its exploration in Middle East.
MEDC has acquired Block 56 in Oman and obtained commercialization rights for Area 47 in Libya. MEDC has also successfully boosted oil production at Karim Small Field to 22,000 barrels oil per day from previous 11,000 barrels.
Meanwhile PT Medco E&P Indonesia is still waiting the government’s decision letter regarding the reallocation of gas production at Block A, Aceh, to Pertamina from state fertilizer company PT Pupuk Iskandar Muda (PIM).
Medco targets Block A, Aceh to be onstream by 2017 with preliminary capacity of 60 million standard cubic feet per day (mmscfd).