KONTAN.CO.ID - JAKARTA. The assets of PT Medco Energi Internasional Tbk (MEDC) have increased. The increase comes after this oil and gas issuer received approval from the Sultanate of Oman to acquire a 20% stake in two blocks in the country, on Tuesday (28/11). Medco Energi will acquire from OQ Exploration & Production LLC (OQEP) a 20% ownership of the production license for Block 60 and a 20% ownership of the exploration license for Block 48. Both of these oil and gas blocks are located on land, specifically in the central western part of Oman. Block 60 has two production fields, namely the Bisat oil field and the Abu Butabul gas field.
Medco Energi Acquires 20% of Two Oil and Gas Blocks in Oman
KONTAN.CO.ID - JAKARTA. The assets of PT Medco Energi Internasional Tbk (MEDC) have increased. The increase comes after this oil and gas issuer received approval from the Sultanate of Oman to acquire a 20% stake in two blocks in the country, on Tuesday (28/11). Medco Energi will acquire from OQ Exploration & Production LLC (OQEP) a 20% ownership of the production license for Block 60 and a 20% ownership of the exploration license for Block 48. Both of these oil and gas blocks are located on land, specifically in the central western part of Oman. Block 60 has two production fields, namely the Bisat oil field and the Abu Butabul gas field.