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Jakarta Post
The Jakarta Post
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Medco to spend $40 million on oil field exploration in Libya

  • Alfian

    The Jakarta Post

Jakarta | Thu, April 8 2010 | 10:34 am

PREMIUM Indonesia’s publicly listed oil and gas company PT Medco Energi Internasional plans to spend  US$40 million on exploration activities on an oil block in Libya this year, a director of the company said recently.Medco’s operational director Lukman Mahfoedz said that the block, called Area 47, would require as much as US$80 million for exploration activities this year. “Medco will cover ha...