Indonesian player Medco traded its 15% interest in the Bangkanai production-sharing contract for Salamander’s 21% and 41.7% stakes in the Simenggaris and Bengara-1 blocks, respectively.
This deal gave Medco 100% of the Bengara-1 PSC and 62.5% in Simenggaris.
The swap deal, which has no cash component, is subject to regulatory and Indonesian government approval. On completion of this deal, Medco’s booked reserves at Simenggaris will increase by 5 million barrels of oil equivalent to 15 million boe.
The
