Medco farms out Bawean block
Thursday, October 16 2014 - 04:14 AM WIB
By Febry Silaban
IDX-listed oil and gas firm PT Medco Energi Internasional Tbk through its subsidiary Medco Bawean (Holding) Pte Ltd is planning to farm out its interest in the Bawean block, offshore East Java.
?The farm-out for Bawean block is still in the process,? CEO of Medco Lukman Mahfoedz told Petromindo.com on Wednesday.
He did not give further details about the percentage of interest it planned to farm out.
The block is 65 percent owned by Medco and the remaining interest is held by Camar Resources Canada Inc. which is also the operator of the block.
Editing by Reiner Simanjuntak