Medco Energi Wins Oil Field Proj. in Tunisia
Friday, April 29, 2011
Asia Pulse Pte. Ltd.
Medco Energi said its subsidiary Medco Tunisia Anaguid Ltd has secured the right to produce oil from an oil field in Tunisia.
Medco Tunisia was granted last month the license by the Tunisian government to develop the Durra oil field in Anaguid.
Medco will team up with OMV Anaguid Ltd, formerly named Pioneer Natural Resources Anaguid Ltd to operate the oil field, Medco Energi project director Lukman Mahfoedz said.
The Durra field is expected to start producing 3,300 barrels of oil per day in June, Lukman told the newspaper Investor Daily yesterday.
Medco Tunisia owns a 20 percent stake in the project with OMV Anaguid holding a 30 percent share and ETAP, that represents the Tunisian government as a 50 percent shareholder.
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