Medco eyeing oil, gas blocks in Myanmar

By Godang Sitompul

PT Medco Energi Internasional Tbk said it plans to take part in tenders for oil and gas blocks in Myanmar, as part of its move to increase oil and gas assets portfolio abroad, a company official said.

?We are evaluating potentials in Myanmar in a number of specific potential regions,? Frila B. Yaman, President Director of PT Medco EP Indonesia, a subsidiary of Medco Energi, told Petromindo.com, but declining to name which blocks the company is targeting.

Medco EP is currently embarking on exploring a number of exploration blocks in other countries, including one in Libya, two in Yemen and two in Cambodia.

This year Medco Energi is targeting to produce 60,000 barrels of oil equivalent per day (boepd), unchanged from projected production last year.

Editing by Roffie Kurniawan