Indonesia’s Medco Energi has started international arbitration at the ICC against the National Oil Company of Libya to enforce its contractual rights under an exploration and production sharing contract, as well as protect its right to benefit from its investment in Area 47 in the north African nation.
Fitch Ratings has removed Medco Energi from rating watch, as the oil and gas company has completed the acquisition of the giant Corridor Block from ConocoPhillips, and the outlook is positive. Its long-term issuer default rating is now at B+.
Indonesian independent Medco Energi is carrying out a study to assess the potential of applying carbon capture, utilisation and storage (CCUS) technology at its operating assets.
Indonesia’s Medco Energi and Spain’s Repsol are reportedly keen to bid for ConocoPhillips' share of the giant onshore Corridor gas block in Indonesia estimated to be worth more than $1.5 billion.
Medco Energi, which operates South Natuna Sea Block B, will share a jack-up drilling rig with four other operators offshore Indonesia as part of a pact that will save millions of dollars.
Indonesian-listed MedcoEnergi is accelerating development of its offshore Block B in the Natuna Sea in Indonesia.
Santos is seeking buyers for a 20-30% stake in its large Dorado oil project and Bedout exploration portfolio offshore western Australia estimated to be worth up to $200 million. Significantly, there is expected to be global interest in the sales process, which could be particularly appealing for Asian national oil companies (NOCs).
Ophir Energy Plc’s takeover by Medco Energi Internasional Tbk could be blocked by a contingent of the U.K. company’s shareholders who want a higher offer, according to some of the investors.
Ophir Energy has agreed to a takeover by Indonesia's Medco in a deal that values the London-listed company at £390 million.
The board at London-listed oil firm Ophir Energy has rejected a takeover offer from Indonesian company Medco.
Shares in Ophir Energy climbed rapidly after the London-based exploration and production firm confirmed talks with a potential new owner.