Medco Energi Acquires 10% Stake in Four Eni Indonesia Blocks

3-line summary

• PT Medco Energi Internasional agreed to acquire a 10% participating interest from Eni in four oil and gas blocks in East Kalimantan's Kutai Basin — Muara Bakau, Ganal, West Ganal and East Ganal — according to Investing.com, in a deal announced Monday.
• The assets, operated by Searah (a joint venture between Eni and Malaysia's Petronas), span production, development and exploration operations and include the Geliga gas field, estimated to hold about 5 trillion cubic feet of gas and 300 million barrels of condensate. Deal value was not disclosed.
• The transaction follows a separate deal this month in which Pertamina's upstream unit, Pertamina Hulu Energi, agreed to acquire stakes in three other East Kalimantan blocks from Eni.

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