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Jakarta Post
The Jakarta Post
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Medco seeks $275m in loans to finance oil field in Libya

  • Alfian

    The Jakarta Post

Jakarta | Mon, May 11 2009 | 10:16 am

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...