Details emerge on INPEX acquisition in PT Medco Power
Lake Maninjau crater lake, West Sumatra, Indonesia (source: flickr/ Indrani Soemardjan, creative commons)
Francisco Rojas
24 Jun 2015
The Japanese oil giant INPEX confirms acquiring 49% in PT Medco Power but refuses to release more details.
News from Indonesia details that the Japanese oil and gas company INPEX has has acquired a 49% stake in PT Medco Power earlier this month in order to get involved in the construction of geothermal power plant of Sarulla.
A local newspaper has stated that INPEX confirms the acquisition but they are reluctant to release any more details on the operation, in particular the tag price for the takeover for the Japanese firm.
The Sarulla geothermal plant is one of the most important projects for the country and the industry worldwide and has attracted many large players.
According to the same source, “Medco Power has drilled 10 geothermal wells. Investment on the geothermal wells represents between US $8 million to US $ 0 million. Some contractors working on drilling projects in the Sarulla geothermal power plants are Haliburton and Hyundai will assist with the engineering, procurement and construction (EPC).
To read more on the subject, please follow the link.
Source: Kontan
