Hunton Andrews Kurth Advises Medco Energi on Sale of Interest in Libyan Oil & Gas Project

Hunton Andrews Kurth LLP represented Medco International Ventures Limited (“Medco”), a subsidiary of PT Medco Energi Internasional Tbk, a listed Indonesian oil and gas company, in connection with the sale of its interest in a development stage Libyan oil & gas project (the North Hamada project in the Ghadames Basin) to the National Oil Corporation of Libya (“NOC”). The assets include Medco’s participating interest in the Contract Area 47 Exploration and Production Sharing Agreement (awarded in 2005), its operatorship and shares in a joint venture company set up to operate the development and take the field into production. 

The Hunton Andrews Kurth team included partner Philip Mace, senior attorney Yulia (Julia) Vaynzof and associate Tareq Toubassi.