Medco expands overseas upstream portfolio
Wednesday, October 4 2006 - 02:26 PM WIB
JSX-listed energy firm Medco Energi Internasional Tbk. announced on Wednesday that it had been awarded an exploration block offshore Cambodia.
The company said it would hold 90 percent working interest and operatorship of Block E and its partner JHL Petroleum Limited would hold the balance.
The company will have 3 years exploration right, which could be extended for twice at two years each.
Block E is located offshore Cambodia in Khmer basin right by the northwest coast of Cambodia.
JHL Petroleum Limited is a Bahamas company, owned by a group of companies based in Indonesia. (alex)