Medco units transfer shares in Medco CBM Bengara to affiliates
Saturday, December 30 2017 - 02:28 AM WIB
By Romel S. Gurky
PT Medco Energi CBM Indonesia (MECI) announced on Friday it had on December 28 executed the transfer of its shares in PT Medco CBM Bengara to affiliated company PT Medco Daya Sentosa in the amount of Rp 999.90 million.
Meanwhile, PT Medco Energi Nusantara (MEN) has executed the transfer of MEN's shares in PT Medco CBM Bengara to affiliated firm PT Medco Daya Abadi Lestari in the amount of Rp 100 million, MECI said in a statement.
The Bengara block, located in East Kalimantan, covers an area of 922.1 km2. The block is operated by PT Medco E&P Bengara Co., Ltd, which is a fully-owned subsidiary of IDX-listed energy company PT Medco Energi Internasional Tbk.
Editing by Reiner Simanjuntak