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Medco Energi completes acquisition of Ophir Energy


22 May 2019

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Medco Energi has announced the completion of the acquisition of Ophir Energy in a recommended all cash offer valued at £408.4 million.

Ophir’s assets are highly complementary to MedcoEnergi’s existing portfolio and the combined business creates a leading regional oil and gas player in Southeast Asia.  The acquisition of Ophir will increase MedcoEnergi’s 2019 pro forma production by approx. 29% to 110 Mboepd, and combined 2P reserves and 2C resources by 86% to 1,439 MMboe.

Hilmi Panigoro, President Director of MedcoEnergi, said:

'We are delighted to have successfully completed the acquisition of Ophir, which firmly establishes MedcoEnergi as a leading oil & gas player in Southeast Asia.  This acquisition further underlines our strategy to selectively expand MedcoEnergi’s presence and we believe it will create value for all of our stakeholders.'

Original article link

Source: Medco Energi





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