Medco Energi and Pertamina Acquire Eni Assets in Indonesia

PT Medco Energi Internasional reached an agreement with Eni to acquire a 10% participating interest in four oil and gas blocks located in the Kutai Basin of East Kalimantan, Indonesia. The acquisition covers production, development, and exploration assets in the Muara Bakau, Ganal, West Ganal, and East Ganal blocks.

These assets include the Geliga gas field, which holds an estimated 300 million barrels of condensate and 5 trillion cubic feet of gas. The blocks are currently operated by Searah, a joint venture between Eni and Petronas.

In a separate transaction during October, Pertamina Hulu Energi, the upstream division of state energy company Pertamina, signed an agreement with Eni to purchase stakes in three additional oil and gas blocks within East Kalimantan.