MedcoEnergi to acquire Indonesia assets from ConocoPhillips for $1.36bn.

MedcoEnergi, an investment holding company, agreed to acquire Indonesia assets from ConocoPhillips, a provider of oil exploration and production services, for $1.36bn. The company sells a 54% interest in the Indonesia Corridor Block Production Sharing Contract and a 35% shareholding interest in Transasia Pipeline Company. “Today’s announcement reflects our ongoing commitment to further strengthen our company across every aspect of our global portfolio,” “The Asia Pacific region plays an important role in our diversification advantage as an independent E&P and these two transactions enhance that advantage by lowering our aggregate decline rate and diversifying our product mix,” Ryan Lance, ConocoPhillips Chairman and CEO.