Medco Ends Anadarko Deals

摘要

Indonesia's Medco Energi says it has terminated agreements inked with US Anadarko Petroleum in 2005 and 2006 to explore and operate assets in Medco's Indonesian portfolio. Anadarko will now have to reimburse Medco with $13.87 million for exploration and other work commitment expenses, Medco said in a stock exchange filing last week. Under the 2005 agreement, Anadarko planned to commit $80 million to exploration in return for a 40% stake if an exploration well was successful and a development plan was approved (IOD Jul.27'05,p3).