Disposal drive for Medco

摘要

MEDCO Energi has withdrawn from exploration ventures in Vietnam and Bangladesh and sold positions in Indonesia, all of which were inherited from Ophir Energy, writes Russell Searancke. The Indonesian independent said it has also disposed of Block R in Equatorial Guinea, while the sale of Block 5 in Mexico is progressing. The Vietnam acreage comprised of 50% interests in Block 123 and 40% of Block 124, both in the Phu Khanh basin. The joint venture partners in Block 123 are PetroVietnam and SK Energy, while in Block 124 it is Eni. Exploration wells have been drilled on both tracts but without commercial success.