Mitsui transfers Aceh oilfield stake to Medco
Tuesday, December 4 2007 - 05:12 PM WIB
Indonesian Stock Exchange-listed energy firm PT.Medco Energi Internasional Tbk. reported on Tuesday that Japanese upstream company Mitsui Oil Exploration Co. Ltd (MOECO) has transferred its entire interest in Medco Moeco Langsa Limited (MMLL) to Medco?s subsidiary MEI Euro Finance Limited.
MMLL has 70 percent interest and acts as the operator of Langsa TAC a producing block off the eastern part of Aceh.
MMLL will change name to Medco E&P Langsa Limited.
Modec Production (Langsa) Pte. Ltd has 30 percent interest in Langsa TAC.(alex)