Medco farms in Tunisia block

JSX-listed oil and gas firm PT.Medco Energi Internasional Tbk. announced on Monday it had signed a deal to acquire 40 percent interest in Anaguid block in Tunisia from US oil firm Anadarko Petroleum for US$10 million.

Anadarko which previously had a 55-percent stake in the Anaguid Block had sold the remaining 15 percent of its participation right to Pioneer Natural Resources which already had a 45-percent stake in the block.

Through the acquisitions, Medco Tunisia would hold a 40-percent and Pioneer a 60-percent stake in the Anaguid Block.

Pioneer Natural Resources will be operator of the block.

The block is a development block located in the western part of prolific Ghadames basin. Anadarko has previously drilled the block which resulted in hydrocarbon indication.(alex)