Medco Energi acquires stake in Repsol's Indonesian gas operation for $425m
The transaction is expected to enhance Medco Energi's portfolio, with completion anticipated in the third quarter of 2025 (Q3 2025).
The Corridor PSC, situated onshore in South Sumatra, Indonesia, comprises seven producing gas fields and one oilfield.
The gas from these fields is sold under long-term contracts to buyers in Indonesia and Singapore, ensuring a stable revenue stream.
MedcoEnergi president director Hilmi Panigoro said: "This acquisition supports our strategy of owning and developing high-quality, cash-generative assets and reaffirms our commitment to national development where natural gas is a vital bridge to a lower-carbon future.'
Medco Energi reported EBITDA (earnings before interest, taxes, depreciation and amortisation) of $332m in Q1 2025, surpassing its figures from Q4 2024.
This financial uptick is attributed to effective cost management strategies, although it has been partially offset by seasonal variations leading to reduced gas demand.
Repsol, with a presence in more than 20 countries, is focusing on its upstream business to prioritise more lucrative assets.
This divestment aligns with its strategy to concentrate on assets with higher profitability and cash generation capabilities.
The sale is expected to positively influence Repsol's financials, with an estimated $70m boost to its annual income, reported Reuters.
Moreover, the transaction will contribute to a reduction in Repsol's net debt of approximately $350m, underscoring the deal's strategic financial benefits.
In December last year, GeoPark signed binding sales and purchase agreements to acquire Repsol's upstream oil and gas assets in Colombia.
"Medco Energi acquires stake in Repsol's Indonesian gas operation for $425m" was originally created and published by Offshore Technology, a GlobalData owned brand.
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