Wed, 08 Aug 2012 03:20:28 CDT
Malaysian oil and gas firm, PT Medco Energi Internasional has signed an agreement with Dubai-based Reliance Exploration & Production DMCC to acquire a 25% stake in the Malik Block 9 in Yemen, the Jakarta Post has reported. ?Medco and Reliance Exploration & Production DMCC are now in the process of completing the sales and purchase agreement. Completion of this transaction is conditional upon sanction by the Yemeni Ministry of Oil and Minerals,? Medco said. Other shareholders in Malik Block 9 are Calvalley Petroleum (Cyprus) (42.5%) and Hood Oil (21.25%).
Read full article at: ameinfo.com