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


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

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 ...