Medco allocates US$500m for capital expenditure
The Jakarta Post, Jakarta - 26/01/2011
Energy firm PT Medco Energi International (MEDC) has allocated
US$500 million for capital expenditure in oil, gas and power
plant projects in 2011.
MEDC vice president for investor relations Nusky Suyono said the
company will borrow money from banks to supply 70 percent of the
capital expenditure and use its own funds to cover the rest.
“We will spend $254 million for oil and gas exploration,” Nusky
said Wednesday, as quoted by kontan.co.id.