Medco does not consider selling stake in Libyan asset

A senior offficial of PT Medco Energi International insisted that the firm had not considered selling some stake in the K47 block in Libya.

Lukman Mahfoedz, Director PT Medco Energi International, which is assigned to oversee the Libyan project, denied the previoius statement on Tuesday by Medco E&P Indonesia's President Director Budi Basuki that the firm mulled selling some stake in the Libyan block to raise funds to finance Medco's Indonesian projects.

"I as the director of Medco Energi that oversees the project clearly stated to several journalists on Tuesday that the statement is untrue. Please, correct it," Lukman told Petromindo.com on Wednesday.

The Libyan block, which is 50 percent owned by Medco, is said to have 2.15 billion barrels of oil reserves. (Godang)