Medco completes Ophir acquisition

Alpha and Beta platforms on the Bualuang field offshore Thailand.
Alpha and Beta platforms on the Bualuang field offshore Thailand.
Ophir Energy

Offshore staff

JAKARTA, Indonesia – PT Medco Energi Internasional has finally completed its acquisition of London-based independent Ophir Energy in a deal valued at £408.4 million ($517.6 million).

The company regards Ophir’s assets, which include operatorship of the Bualuang field offshore Thailand and various E&P interests acquired last year from Santos, as complementary to its existing portfolio, with the combined business creating a leading regional oil and gas player in Southeast Asia.

As a result, MedcoEnergi’s 2019 pro forma production will rise by around 29% to 110 MMboe/d and its 2P reserves and 2C resources by 86% to 1,439 MMboe.

05/22/2019

More in Business Briefs