ConocoPhillips sells remaining Indonesian assets
JAKARTA, March 3, 2022 – Medco Energi has completed the acquisition of American multinational ConocoPhillip’s entire share capital in Indonesia for USD 1.36 billion, the Indonesian oil and gas company announced today.
The acquired company, ConocoPhillips Indonesia Holding, operates the Corridor PSC and holds a 35% interest in Transasia Pipeline Company.
The Corridor asset contains two producing oilfields and seven producing gasfields onshore South Sumatra, Indonesia. The assets are in proximity to Medco Energi’s existing operations. The PSC is now operated by Medco Energi with a 54% share. Partners Repsol and Pertamina Hulu Energi hold a 34% share and 10% share respectively.
Transasia Pipeline Company operates two gas export pipelines that deliver gas to Central Sumatra, Batam and Singapore.