PT Medco Energi Company News

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Lundin Petroleum Sells Indonesian Upstream Assets to Medco for $22M
Friday, October 09, 2015 Lundin Petroleum sells its upstream assets in Indonesia to PT Medco Energi Internasional for $22 million.

Indonesia's Medco Gets Additional 25 Years to Operate Oman Oil Fields
Wednesday, April 29, 2015 Indonesia's PT Medco Energi Internasional says its unit has signed an amended agreement which allows it to operate the Karim oil fields in Oman for an additional 25 years.

Medco Energi Discovers Oil, Gas in Indonesia and Libya
Monday, September 29, 2014 PT Medco Energi makes gas discoveries at Hijau-2 well in Indonesia's South Sumatra and at O2 well in Area 47 in Libya.

Kidnapped British Worker Freed in Indonesia
Thursday, June 13, 2013 Kidnappers release a UK worker abducted from a Medco Energi well site in Indonesia.

Indonesian Parliament Rejects Pertamina's Push for Stake in Medco
Thursday, November 25, 2010 Indonesian parliament rejected Pertamina's plan to buy 27.9% stake in Medco, a law maker said.

CBM Asia Joins South Sumatra PSC
Monday, August 24, 2009 CBM Asia Development Corp. on Monday announced that it has signed a Letter of Intent ("LOI") with Batavia Energy Inc. to acquire 48 percent of South Sumatra Energy Inc.

Medco Energi Seeking Investors to Develop Libya Oil, Gas Field
Tuesday, November 18, 2008 PT Medco Energi Internasional is seeking investors from the Middle East to take part in the development of an oil and gas field in Libya.

Medco Appoints Senior VP of Exploration and Development
Wednesday, June 11, 2008 Medco Energi US has promoted John Young to the newly-created position of senior vice president of exploration and development, President Dale Wooddy announced.

PT Medco Tests Libyan Wildcat
Thursday, December 06, 2007 PT Medco Energi Internasional reports that the flow testing of the F1-47/02 new field wildcat exploration well was completed in early November.

North Sumatra Block-A Heads of Agreement
Friday, November 02, 2007 PT Medco E&P Malaka has signed a HoA for gas sales with PT Pupuk Iskandar Muda, which is located at the Province of Nanggroe Aceh Darussalam, to supply gas from Block A (PSC) to PIM-1 AND PIM-2 installations.

Mitsubishi Acquires Shares in PT. Medco Energi Internasional Tbk
Friday, August 24, 2007 Mitsubishi Corporation has agreed to indirectly acquire approximately 19.97% of the issued shares of Indonesia's PT. Medco Energi Internasional Tbk.

Medco Returns Camar to Production
Wednesday, May 23, 2007 After being shut down since Q3 2004, the Camar field in Bawean block, East Java, has resumed production in Q2 2007 starting at 1,000 BOPD.

Petrogas Decides Against Taking Sampang Stake
Friday, April 27, 2007 PT Petrogas Oyong Jatim, the company nominated by the Indonesian Government to take up a 10.0% undivided interest in the Sampang PSC (the "Interest") has decided not to acquire the interest, announced Singapore Petroleum Co. Limited (SPC).

BP Migas: Medco, Pertamina Must Submit New Senoro-Toili Plan
Wednesday, April 11, 2007 BP Migas wants Medco and Pertamina to submit a new plan of development for the Senoro-Toili block after changing the gas allocation, said Achmad Luthfi, Planning Deputy of the Indonesian upstream oil and gas supervisory agency.

Arrow Signs CBM Deal with Medco
Monday, March 12, 2007 Arrow Global CBM Pty Ltd (AGCBM) and PT Medco E&P Indonesia have signed a Letter of Understanding (LOU) for broad-ranging cooperation in Coal Bed Methane (CBM) in South Sumatra, Indonesia.

PT Medco Acquires 50% of ConocoPhillips' Aceh Block A
Wednesday, January 24, 2007 PT Medco Energi Internasional and its partner Premier Oil have signed a share sale and purchase agreement to obtain ownership of Block A PSC from ConocoPhillips.

Aban: Apexindo Talks Off with Medco
Friday, January 19, 2007 Aban Offshore Ltd said that negotiations related to its proposed acquisition of a stake in Indonesian drilling contractor Apexindo Pratama Duta Tbk have been terminated.

Medco Energi Increases Gulf of Mexico Position
Tuesday, December 19, 2006 PT Medco Energi Internasional Tbk through its subsidiary, Medco Energi US LLC, has closed the purchase of an additional lease in the Brazos Area of the Gulf of Mexico from Centaurus Gulf of Mexico, LLC.

PT Medco Energi Internasional Wins Two Blocks in Yemen
Monday, December 18, 2006 PT Medco Energi Internatsional Tbk has been awarded Blocks 82 and 83 in Yemen's Third International Bid Round conducted by the Ministry of Oil & Minerals in the Republic of Yemen.

PTTEP Expands Investment in Indonesia
Monday, November 27, 2006 PTTEP has signed a Farm-in/Farm-out Agreement for Block Bengara I with PT Medco E&P Bengara Company Limited on November 24, 2006.

Medco Energi Acquires Block E Offshore Cambodia
Thursday, October 05, 2006 PT Medco Energi Internasional Tbk through it subsidiary, Medco International Petroleum Limited, and its partner JHL Petroleum Limited has acquired Block E offshore Cambodia.

Technics Wins Several Contracts for Gas Compressor Packages
Tuesday, September 26, 2006 Technics has secured 3 EPCC contracts worth S$6.2 million for 4 units of gas compressor packages to major Oil & Gas clients in Southeast Asia.

Premier Oil Issues Operational and Trading Update
Wednesday, July 19, 2006 Premier Oil plc said Wednesday that it plans to announce its interim results for the 6 months to June 30, 2006, on Sept. 21, 2006. In advance of these results, the company reported the following update.

MedcoEnergi Farms In on Offshore Texas Block
Thursday, July 06, 2006 On Tuesday, May 30, 2006, the U.S. subsidiary of Jakarta-based PT MedcoEnergi Internasional completed the purchase of a 43.75% working interest in Mustang Island Block 758 in the western Gulf of Mexico.

Premier Takes Stake in North Sumatra Block A
Wednesday, April 26, 2006 Premier Oil and its partners Medco and Japex have acquired a stake in the North Sumatra Block A PSC located onshore Indonesia from a subsidiary of ExxonMobil which holds a 50% working interest in the block.

Verenex Contracts Two Rigs for Its Libyan Operations
Wednesday, April 12, 2006 Verenex Energy said that it has executed contracts for two drilling rigs for its operations in Area 47 in Libya.

Novus Louisiana Changes Name, Appoints New President
Wednesday, March 22, 2006 Novus Louisiana, a wholly owned subsidiary of PT Medco Energi Internasional Tbk, has changed its name to Medco Energi US.

SPC and Partners Spud Jeruk-3 Appraisal Well
Wednesday, January 25, 2006 Singapore Petroleum Company together with its partners have begun drilling the Jeruk-3 well to further appraise the Jeruk oil discovery.

SPC Enters Into Revenue Sharing Arrangement on Jeruk Field
Thursday, January 05, 2006 Singapore Petroleum has entered into a Jeruk Project Agreement with Cue Sampang and Medco Strait Services to share the costs and revenue in in respect of the Jeruk field.

Verenex Sets Budget for 2006 Libyan Exploration Program
Friday, December 16, 2005 Verenex Energy has received unanimous approval for its proposed firm 2006 work program and budget for Area 47 in Libya from the Area 47 Management Committee.

Serica Acquires Interest in Indoneisan Block
Monday, August 22, 2005 Serica Energy Corporation today announced that it has entered into an agreement with PT Medco Energi Internasional TBK to acquire a 15% interest in the Asahan Offshore Production Sharing Contract ("PSC") to add to its existing interest.

Anadarko Expands Its Exploration Frontier in Indonesia
Tuesday, July 26, 2005 Anadarko Petroleum has significantly increased its access to exploration acreage in Indonesia through an exploration joint venture agreement with Medco Energi International, Indonesia's largest independent exploration and production company.

PTTEP to Participate in Block Merangin I in Indonesia
Tuesday, July 19, 2005 PTTEP has signed a farm-in agreement to acquire the interest in the Merangin I Production Sharing Contract, with PT Medco E&P Merangin.

Verenex Finalizes Exploration Agreement in Libya
Monday, March 14, 2005 Verenex Energy and its partner have finalized an Exploration and Production Sharing Agreement with Libya's National Oil Company for Area 47, a 6,182 square kilometer area in the Ghadames Basin in northwest Libya.

PTTEP Sells Indirect Stake in Medco Energi to Encore
Tuesday, February 01, 2005 PTTEP's subsidiary PTTEP Offshore Investment Company Limited (PTTEPO) has signed a Conditional Share Purchase Agreement to sell its entire shareholdings in New Links to Encore Int'l Limited.

Santos Makes Discovery Offshore East Java
Monday, October 18, 2004 Santos reports that oil and gas have flowed from its Jeruk 2 ST-2 well being drilled in the Sampang Production Sharing Contract, offshore East Java.

Medco Farms Out Stake in Yapen Block Offshore Indonesia
Wednesday, July 21, 2004 Continental's partner company in its Yapen Block production sharing contract area offshore Papua, Indonesia, Medco E&P (Yapen) Ltd. is farming out 75% of its Yapen Block interest to Maraja (Yapen) Energy Ltd.

Santos to Acquire Some Novus Assets from PT Medco
Monday, June 07, 2004 Santos Limited announced that, given Sunov's decision not to proceed with its bid for Novus Petroleum Limited (Novus), Santos has agreed with PT Medco Energi Internasional Tbk (Medco) to acquire part of Novus' Indonesian interests and all of Novus' Cooper Basin interests.

Australian Govt Approves Medco's Planned Novus Takeover
Friday, February 06, 2004 The Australian government said Friday it has no objections to the planned acquisition of Novus Petroleum Ltd. by Indonesia's Medco Energi Internasional.

Medco To Decide On Raising Novus Bid Early February
Friday, January 23, 2004 PT Medco Energi International will decide early February whether it will raise its takeover offer for Australia's Novus Petroleum Ltd.

Novus Says Rival Bids Both Below Valuation Range
Wednesday, January 21, 2004 Novus Petroleum said Wednesday that an independent report prepared by Grant Samuel has valued the company's shares between A$1.96 and A$2.75.

Medco May Sell Assets, Cut Staff After Takeover
Wednesday, January 21, 2004 Medco Energi International said Wednesday it may sell some assets and lay off staff at Novus Petroleum if it successfully takes over the Australian energy company.

Medco May Up Takeover Bid for Novus
Thursday, January 15, 2004 Medco Energi International may raise it takeover bid for Australia's Novus Petroleum Ltd. to beat rival offers for the mid-sized oil and gas company.

Australia's Takeovers Panel Considers Novus Bid Claim
Wednesday, January 07, 2004 Australia's Takeovers Panel may meet as early as Wednesday to consider a claim by Novus that an A$326 million hostile takeover bid by Medco Energi doesn't provide enough disclosure to shareholders.

Medco Energi Bidding on Acreage to Increase Production
Thursday, July 10, 2003 In an effort to increase production, PT Medco Energi is placing bids on five blocks. Four are operated by ConocoPhillips and one is operated by Equatorial Energy.