Medco seeks $275m in loans to finance oil field in Libya
The Jakarta Post
PREMIUM Publicly listed PT Medco Energi International is seeking as much as US$275 million worth of loans to develop its oil block in Libya. Medco project director Lukman Mahfoedz said the so-called Area 47 project in Libya would cost $800 million for facility construction and $300 million for development. “Of the total cost of US$ 1.1 billion, Medco will only contribute 25 percent,” he sa...