Medco Energi Internasional Plans US$215 Million Capex in 2021
· by Shintya Kalsum
JAKARTA — PT Medco Energi Internasional Tbk (MEDC) has set its capital expenditure (capex) budget at US$215 million for 2021, marking a modest 4% increase from the US$207 million realized in 2020, according to Corporate Secretary Siendy K. Wisandana.
Capex Allocation Breakdown
- Oil & Gas Segment: US$150 million allocated for ongoing exploration efforts and the development of the Hiu gas project in Natuna Block B.
- Power Generation & Renewables: US$65 million earmarked, primarily for completing the 275 MW Riau CCPP (Combined Cycle Power Plant), as well as ongoing geothermal projects at Ijen & Sarulla and solar photovoltaic installations in Sumbawa.
Summary
With its balanced investment strategy, MEDC continues to focus on expanding upstream oil and gas operations while simultaneously advancing its power and renewable energy footprint. The capex increase reflects a cautious but progressive growth plan amid global market uncertainties.
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