Medco Completes Purchase of Conoco's Assets in Indonesia

Medco Energi Internasional has completed the acquisition of ConocoPhillips Indonesia and ConocoPhillips Singapore Operations, both subsidiaries of ConocoPhillips.

ConocoPhillips Indonesia is the operator of the South Natuna Sea Block B PSC with a 40% working interest and is also the operator of the West Natuna Transportation System. ConocoPhillips Singapore Operations operates the onshore receiving facility in Singapore.

The West Natuna Transportation System infrastructure together with the Malaysian pipeline is, and will continue to be the focal point for the commercialisation of existing discoveries and ongoing exploration activity within the Natuna area, Medco said November 17.

This is the second major purchase for Medco this year. Earlier this month, the company completed the purchase of Newmont Nusa Tenggara, which operates Batu Hijau copper and gold mine on the island of Sumbawa, Indonesia.

Shardul Sharma