ASIA

Medco in Aceh purchase

Apart from its attempts to takeover the ASX listed Novus Petroleum Medco Energi Internasional has...

Medco and Mitsui equally split the stake acquired from Modec Production, which will maintain a 20% interest with Putera Langsa holding the remaining 10%.

The companies have already planned to invest up to US$33 million in the next five years to develop the oil field in the Malacca Straits which has been producing since November 2001.

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