By Berni Moestafa
Aug. 4 (Bloomberg) -- PT Medco Energi Internasional may raise as much as $300 million selling its stake in six oil and gas areas, Investor Daily Indonesia reported, citing a company official.
Medco plans to sell its stakes because it isn't the operator of these blocks, the newspaper said, citing Nusky Suyono, an investor relations officer at the Jakarta-based company. The six blocks are located in Indonesia's Madura, Riau, South Sumatra, Aceh and East Java, the report said.
The company expects to complete the sale this year, Investor said, citing Suyono. Medco is Indonesia's biggest publicly traded oil company.
To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net
Monday, August 4, 2008
Medco to Sell Six Oil, Gas Areas, Daily Indonesia Reports
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