Medco to cooperate with Lebanon?s Uni Oil in Yemen

Publicly ?listed PT Medco Energi International Tbk has signed a memorandum of understanding (MoU) with Lebanon?s Uni Oil Company regarding cooperation in exploration and production of oil and gas in the Middle East, Bisnis Indonesia newspaper reported in its Wednesday edition.

A press release sent by the office of the President?s Special Envoy to the Middle East to Bisnis Indonesia said that the MoU was signed last week in Beirut by PT Medco?s CEO Hilmi Panigoro and Rashid Alkaff from Uni Oil. The signing was witnessed by Indonesia?s Ambassador to Lebanon Abdullah Syarwani.

Meanwhile, Hilmi said the consortium of Medco and Uni Oil will form a joint team to explore oil and gas in Yemen, starting from the middle of this year.

The team will actively participate in producing oil and gas in the Middle East region.

Uni Oil is owned Lebanon?s former Prime Minister Najib Mikoti. (*)