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Premier Insight : MEDC, We met with Medco Energi Internasional yesterday to have details on FY17 performance
Thursday, April 19, 2018       09:27 WIB

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We met with Medco Energi Internasional ( IJ; Rp1,275; Buy) yesterday to have details on FY17 performance and here some key takeaways:
  • The company targets their hydrocarbon production will slightly improve due to new gas delivery from Block A. It is expected that Block A will commence gas delivery around 58 bbtud in 2Q18.
  • The company expect that Sarulla geothermal Power Phase I unit 3 will commence operation in 2Q18 and expect their IPP Power Production to surge by 36% yoy to 2,908 GWh in 2018.
  • The company has set capex amounted to US$320mn which will be allocated for maintenance around US$150mn and another US$170mn for completion Sarulla Unit 3 and Block A.
  • plans that AMNT will conduct IPO this year, but they did not disclose yet about the structure and the expected proceed.
  • The company expect the production volumeof copper and gold from AMNT will decline further this year. Worth to note, copper and gold sales volume was down by 65.9% yoy and 101.2% yoy in FY17. (Company).

Sumber : IPS RESEARCH

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