Medco to invest $400 million in Libya


Jakarta, posted: Thu, March 11 2010 | 10:43 am

Publicly listed PT Medco Energi International will invest as much as US$400 million in an oil facility in Libya, the president commissioner Hilmi Panigoro told reporters Wednesday.

Hilmi said the facility required a total investment of $800 million, but Medco will team up with Libyan Investment Authority (LIA).

“[The investment] will be shared 50:50 with Libya,” Hilmi said. He a...