Medco Plans Comeback in Tunisia With 8 New Oil Blocks

(MENAFN- Qatar News Agency) Jakarta August 24 (QNA) - Propelled by the acquisition of eight new oil and gas blocks MedcoEnergi International aims to make a comeback in Tunisia's energy market a Jakarta Post report said Sunday citing company president. President Director Lukman Mahfoedz told the newspaper his company plans a great leap for the company's global expansion taking advantage of untapped oil and gas resources in the North African country. After months of talks publicly listed MedcoEnergi fsecured contracts recently to develop and explore eight new oil and gas blocks in Tunisia. Medco through its subsidiary Medco Tunisia Petroleum Limited has obtained approval from the Tunisian government and the company's local partners to start operations in eight local oil and gas blocks the company said. The company plans to sell output from the blocks in Tunisia's local market the president said. (QNA)