Medco denies forging cooperation with Total

Local oil and gas company PT Medco Energy denied rumors that it was planning a new oil and gas domestic and overseas joint operation with French oil firm Total.

The publicly listed company said in a letter to the Jakarta Stock Exchange that Medco's current cooperation with Total was in the operational side. The company said that its subsidiary PT Apexindo Pratama Duta was working on the local oil field of Total Indonesia, the oil field of Total Sirii in Iran.(*)