Pertamina, PetroChina interested in Medco?s blocks
Monday, October 22 2007 - 03:39 AM WIB
State owned oil and gas company PT Pertamina and Chinese firm PetroChina are interested to buy oil and gas blocks offered publicly-listed PT Medco Energi Internasional.
A Medco official who wanted to remain anonymous said on Monday both firms had expressed interest to buy the assets.
Earlier Medco said it would sell its non-operating interest in Kakap block offshore West Natuna, Tuban block onshore East Java and Jeruk field in Sampang PSC offshore East Java .
Medco would concentrate on the blocks where the company is the operator, Medco CEO Hilmi Panigoro said in September this year.
Medco has 18.75 percent interest in Kakap PSC, 25 percent in Tuban, and 22.5 percent in Jeruk.
Edi Bambang Setyobudi, Operations Director of Medco EP, the upstream arm of Medco Energi International, said on Monday that the firm had appointed a financial advisor for the asset sale. (Godang/Alex)