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JAKARTA (rambuenergy.com) – PT Medco Energi Internasional Tbk through its subsidiary PT Medco E&P Malaka (MedcoEnergi) has awarded Engineering Procurement and Construction (EPC) contract to the consortium of PT JGC Indonesia and PT Encona Inti Industri (JEC) for the development of the Block A gas project in Aceh.
The EPC contract is worth US$240 million.
First gas is scheduled to commence in the first quarter 2018. Under the Gas Sales Agreement signed in January 2015 with Pertamina, MedcoEnergi will deliver 58 Billion British Thermal Units (BTU) per day, 198 Trillion BTU over 13 years.
Roberto Lorato, CEO of MedcoEnergi, remarked, “This is just the first phase of our plans to develop and monetize the resources on this Block.”
The award reaffirms MedcoEnergi’s strategic position as Indonesia’s premier independent energy company, and it will make a significant contribution to both national development and the Government’s plan to develop the infrastructure of the Aceh Province.
MedcoEnergi holds 41.67 percent working interest in the block and also as the operator, KrisEnergy holds 41.66 percent, and Japex 16.67 percent.
JEC is a consortium of PT JGC Indonesia and PT Encona Inti Industri. JGC has just completed the development of the Donggi Senoro LNG plant in Central Sulawesi, in 2015. (*)
