Anadarko farms in E. Kalimantan exploration block

JSX-listed energy firm PT.Medco Energi Internasional Tbk. said on Thursday it has signed deal to sell 49 percent interest in Nunukan PSC, East Kalimantan to US oil, gas firm Anadarko Petroleum.

The company said in a report filed with the JSX that another 11 percent interest would be transferred to Anadarko by December 12, 2007.

Medco, which now has 51 percent interest in the block, will retain the block?s operatorship until the 11 percent interest transfer would completed, the company said.

The block was awarded to Medco in 2004 under the 30-year contract. The company had conducted seismic on the block and had drill one onshore explorationw ell. One offshore exploration well is planned to be drilled by the partnership later this year, said the company. (alex)