Medco to complete acquisition of Japex?s interest in Block A this month
Saturday, July 2 2016 - 03:09 AM WIB
By Thomas Sembiring
IDX-listed energy firm PT Medco Energi Internasional Tbk expects to finalize the acquisition of Japanese firm Japex?s 16.7 interest in Block A PSC in Aceh province this month.
?I think the acquisition will be finalized within two weeks,? Ronald Gunawan, Medo E&P?s President Director, told Petromindo.com.
He refused to unveil the value of the transaction, while noting the firm is now waiting for upstream authority SKK Migas to approve the acquisition.
If realized, the interest of PT Medco E&P Malaka in the block, which is now in construction phase, will rise to 58.3334 percent. The remaining 41.66 percent is held by Singaporean firm KrisEnergy.
Editing by Johannes Simbolon