MedcoEnergi to acquire stake in Repsol’s South Sumatra assets

Group 1 - MedcoEnergi has agreed to acquire operating interests in two production sharing contracts (PSCs) in South Sumatra, Indonesia, from Repsol for up to $90 million (Rp1.49 trillion) [1] - The acquisition includes a 45% stake in the Sakakemang PSC and an 80% interest in the South Sakakemang PSC, pending approval from the Government of Indonesia [1] - The Sakakemang PSC has received development plan approval from Indonesian authorities and is adjacent to Medco's existing Corridor PSC operations [2] Group 2 - MedcoEnergi's CEO stated that these acquisitions strengthen the company's strategic position in South Sumatra and Java's integrated gas value chain, enhancing access to long-life cash-generating assets [3] - The company has increased its stake in Transportasi Gas Indonesia (TGI) to 40%, which operates a pipeline network transporting natural gas from Medco's Corridor PSC and other suppliers [4] - MedcoEnergi focuses on oil and gas exploration and production throughout Indonesia, with a strategic concentration on expanding its reach across Southeast Asia, the Middle East, and South Africa [5]