Indonesia’s Medco Energi Internasional suffered impairment losses of $180.2mn on its Area 47 acreage in the Ghadames basin in Libya in 2016, the firm announced in its H1 2017 results published in late September, but it doesn’t appear to have written off the asset. The firm also reported a 2016 impairment of $92.6mn on its acreage in Tunisia, among total impairments in 2016 of $278.5mn. Medco had put in place plans in 2015 to cut capital expenditure by 20-25% to $270mn, according...
Medco Announces $180mn Impairment On Libya’s Area 47
Published on Fri, 27 Oct 2017 - Volume: 60 Issue: 43Print
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