Medco Interested in Buying Shell's Shares in Masela Block

By Editorial Team 04/08/2020
Summary

PT Medco Energi Internasional Tbk (MEDC) said it is interested in buying 35 percent of Shell Upstream Overseas Ltd's shares in the Masela Block. Medco Energi President Director Hilmi Panigoro said the MEDC-coded company is interested in investing in the oil and gas block located in Maluku. "If the price is right, we might be interested," he said on Monday (8/3).

Previously, a source familiar with the matter told D-Insights that the Energy and Mineral Resources Ministry had made an open bid for divestment of 35 percent of Shell's shares in the Masela Block. Thirty-two investors have requested access to the Masela Block data. The ministry hopes that Shell's stock divestment process can be completed by the end of this year so that it will not disrupt the production schedule for the Masela Block.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.