Indonesia's Medco Gets Additional 25 Years to Operate Oman Oil Fields

Reuters

JAKARTA, April 29 (Reuters) - Indonesia's PT Medco Energi Internasional Tbk said its unit has signed an amended agreement which allows it to operate the Karim oil fields in Oman for an additional 25 years.

The agreement was originally signed by Medco and its partners with Petroleum Development of Oman in 2006 for a period of 10 years, Medco said in an emailed statement on Wednesday.

Medco holds a 51 percent effective participating interest in the fields, with the remainder held by Kuwait Energy Company, two local partners and Oman Oil Company Exploration & Production.

(Reporting by Wilda Asmarini; Writing by Eveline Danubrata; Editing by Shri Navaratnam)

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

Brent Crude Oil : $52.72/BBL 3.31%
Light Crude Oil : $48.51/BBL 3.01%
Natural Gas : $2.89/MMBtu 1.36%
Updated in last 24 hours