MedcoEnergi’s Acquisition of Block B from ConocoPhillips Named APAC Deal of the Year

January 18, 2017

Gibson Dunn represented PT Medco Energi Internasional Tbk. (MedcoEnergi) in a secured cross-border acquisition finance arranged by Australia and New Zealand Banking Group Limited to finance the acquisition of a 40% stake in South Natuna Sea Block B. 

MedcoEnergi acquired ConocoPhillips Indonesia Inc. Ltd. (CIIL) and ConocoPhillips Singapore Operations Pte. Ltd. (CSOP), both subsidiaries of ConocoPhillips in November 2016.  CIIL is the Operator of the South Natuna Sea Block B PSC with a 40% working interest and is also the Operator of the West Natuna Transportation System (WNTS).  CSOP operates the Onshore Receiving Facility in Singapore.  The WNTS infrastructure together with the Malaysian pipeline is, and will continue to be, the focal point for the commercialization of existing discoveries and ongoing exploration activity within the Natuna area.  The Gibson Dunn team was led by Singapore partner Jamie Thomas.

This deal was named the APAC Deal of the Year by the Oil & Gas Council at its 2017 Asia Pacific Oil & Gas Awards Ceremony which was held on January 18, 2017.