Medco admits chance to acquire Kakap slim
Monday, July 7 2003 - 04:03 AM WIB
JSX-listed oil and gas company PT. Medco Energi International Tbk, admitted that the chance to acquire working interest in ConocoPhillips-operated Kakap oil, gas block offshore West Natuna is slimming but said that chance to win another three blocks are still open.
"We got info that we are not on the top list for Kakap block, but chance is still still open for three other blocks," said Medco director Rashid Mangunkusumo on a sideline of a conference in Jakarta.
Sources said that local company called Star Energy is on the top of the list for Kakap block.
ConocoPhillips is offering to sell its stake in four operated blocks; Kakap PSC, Block A PSC, South Jambi B PSC and Tungkal PSC. Sources said ConocoPhillips is expected to announce the results sometime this month. (alex)