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    Medco, Pusri Planning to Buy Exxon's Assets in Ache

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Summary

Medco Energy Internasional is planning to tie up with fertiliser firm PT Pupuk Sriwijaya (Pusri) to acquire oil and gas assets of ExxonMobil in Aceh, Indonesia.

by: Shardul

Posted in:

Asia/Oceania

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Medco, Pusri Planning to Buy Exxon's Assets in Ache

Medco Energy Internasional is planning to tie up with fertiliser firm PT Pupuk Sriwijaya (Pusri) to acquire oil and gas assets of ExxonMobil in Aceh, Indonesia.

The company will operate Block B and North Sumatra Offshore (NSO) in Aceh with Pusri.

Medco currently develops Block A in Aceh with a plan to supply natural gas to Pusri's subsidiary PT Pupuk Iskandar Muda (PIM) in Lhokseumawe, Aceh.

Pusri plans to participate 25% in the acquisition of ExxonMobil assets. ExxonMobil announced in August a plan to sell its working interest in Arun LNG, Block A, and NSO.

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