Apr 8, 2011

Medco seals gas contract from PDKT

Oil and gas producer PT Medco Energi Internasional Tbk (MEDC) via its subsidiary dubbed PT Medco E&P Indonesia has signed a gas and sales purchase agreements (GSA) with PT Perusahaan Daerah Kota Tarakan (PDKT).
Under the agreement, Medco will supply natural gas from Tarakan PSC Block with a total maximum value of 268.50 BBTU and total maximum value of US$846,795.
The GSA term is 5 years and will be effective starting from May 1 2011 until April 30 2011.
The Effectiveness of the GSA will potentially add more income to Medco's sales and revenue for the next 5 years. The additional sales and revenue from oil and gas business in 2011 will enable the company to continue its effort in providing competitive return to its shareholders.

Disclosure: No position at the stock mentioned above.  

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