Thai PTTEP completes sale of Medco interest
Friday, February 18 2005 - 02:11 AM WIB
Thailand's PTT Exploration & Production PCL announced Friday it had received US$236.5 million from its divestment of a 34.2 percent holding in PT Medco Energi Internasional Tbk to Encore Int'l Ltd., a company controlled by Panigoro Family.
PTT Exploration's unit PTTEP Offshore Investment Co. Ltd. currently holds a stake in Medco, Indonesia's largest upstream oil and gas exploration company, through its 40 percent stake in News Links Energy Resource Ltd, a Mauritius-based company. (robert)