Medco may be selected as winner for CNOOC shares in ONWJ
Monday, October 3 2011 - 01:52 AM WIB
PT Medco Energy International Tbk is likely to be selected as the winner of the tender for the sale of 36.72 percent of China National Oil and Offshore Company (CNOOC) shares in Offshore North West Java (ONWJ) offshore West Java.
?The head office of CNOOC is still finalizing who will be selected in the ONWJ shares tender. It appears that Medco is selected,? a source familiar with the transaction told Petromindo.com
If Medco wins the tender, it would mean defeating three other bidders: state oil and gas company PT Pertamina, Indonesian listed PT Energi Mega Persada Tbk and PT Samudra Energy.
Currently Pertamina holds the majority stake of the ONWJ block through its unit PT Pertamina Hulu Energy with 53.25 percent. (godang)