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View all search resultsMedco gets green light for $80 million Paus Biru gas project
Oil and gas producer PT Medco Energi Internasional has secured government approval for the development of the gassy Paus Biru Field in the Madura Strait off the coast of East Java as it reports a loss in the first quarter.
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Oil and gas producer PT Medco Energi Internasional has secured government approval for the development of the gassy Paus Biru Field in the Madura Strait off the coast of East Java as it reports a loss in the first quarter.
Medco’s $80 million development plan for the field, located within the Sampang Block, was approved by the Upstream Oil and Gas Special Regulatory Taskforce (SKK Migas) on July 30.
The plan includes drilling a new gas well, erecting a new drilling rig and installing underwater pipes to channel 31 million standard cubic feet per day (mmscfd) of gas, which is slated for the Grati gas-fired power plant (PLTGU) of state-owned company PT Indonesia Power.
