IDX-listed energy firm PT Medco Energi Internasional reported on Wednesday that it has completed the sale of its 25 percent stake at Kakap oil, gas block offshore West Natuna to Star Energy on July 15, 2009.
Star Energy, which is controlled by tycoon Prayogo Pangestu, is the operator of Kakap PSC. With the acquisition completion, Star?s interest in Kakap increased to 51 percent.
Medco said its proven reserves declined by 4.6 million BOE by the transaction. (alex)
