In a chance interview, EDC president and chief operating officer Richard Tantoco said the country’s largest geothermal producer is eagerly awaiting for the Indonesian government to auction the Graho Nyabu concession in Sumatra.
“Right now we’re working very hard in Indonesia. On our part, we have done the work to acquire what we call preliminary rights for a site and it’s up to the government now to auction that and we have to match. But we’ve been waiting for some time and it has yet to be auctioned,” he said.
Meanwhile, Tantoco said EDC is ready for its first major international drilling campaign in Chile next month.
“It’s good to go. We’re just waiting for the snow to melt because summer there is in December. Budget for the whole exploration stage including everything we spent so far like the roads and the camps is close to $45 million,” Tantoco said.
Another country EDC is actively scouting for opportunities is Peru, Tantoco said.
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