Medco Energi International will invest as much as US$400 million in an oil facility in Libya, the president commissioner Hilmi Panigoro told reporters. Hilmi said the facility required a total investment of US$800 million, but Medco will team up with Libyan Investment Authority (LIA).
“[The investment] will be shared 50:50 with Libya,” Hilmi said. He added the project was awaiting approval from the Libyan government.
“We expect the construction can begin this March. The project can start...More
published:11/03/2010 09:29 GMT
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