JAKARTA (Yosefardi) – PT Medco Energy Tbk (MEDC) allocates capital expenditure (capex) of US$1.4 billion for 3 years until 2016, excluding capex for Tunisia block.
Tunisia block contributed 3,000 barrel oil per day (bopd) for MEDC, making total of 60,000 bopd. Capex for domestic exploration accounts for US$1.1 billion while US$300 million capex is allocated to exploration at Libya and Yaman. Capex for Tunisia reaches US$320 million until 2018.
MEDC might seek partner for Tunisia block. MEDC booked net oil and gas sales of US$518 million in first nine months of 2014, declined 9.6% from US$573 million in the same period of 2013.
The company is set to refinance its US$120 million debt this year, while US$343 million debt is scheduled to mature next year.
The company also target to complete the construction of Senoro gas project in first quarter of 2015. Senoro is expected to supply around 60 mmcf per day in 2016.