Medco has agreed to buy the US company’s subsidiaries ConocoPhillips Indonesia and ConocoPhillips Singapore Operations (CSO).
ConocoPhillips' Indonesia holds the 40% interest in the Block B production sharing contract and is operator of the West Natuna transportation system, while CSO operates an onshore receiving terminal in Singapore.
“Once effective, this acquisition will add substantial gas and liquids reserves and increase Medco Energi’s daily production by over 35%,” Medco chief executive Roberto Lorato said.
“With
