Aboitiz power set to complete Indonesia drilling

MANILA, Philippines – Aboitiz Power Corp. and its partner will complete drilling activities in a geothermal resource in Indonesia by next month.

AboitizPower’s partner PT Medco Power Indonesia was in resource validation and exploration stage when both entered into an agreement to jointly develop the project.

“We have a disclosure we’re looking at a project there... We’re drilling slimholes. We don’t have the results yet. Hopefully by next month we should have something,” AboitizPower CEO Erramon I. Aboitiz said.

Indonesia is AboitizPower’s first foray overseas.

Its wholly-owned Singapore-based subsidiary AboitizPower International Pte. Ltd. teamed up with PT MEdco Power Indonesia last September to explore and develop a potential 2 x 55-megawatt greenfield geothermal plant in East Java province.

The project is under PT Medco Power’s subsidiary PT Medco Cahaya Geothermal, which was awarded the concession to develop the project.