Companies & Finance

Medco takeover could cement Ophir’s Asia pivot

Medco’s acquisition of Ophir Energy would create a significant player in East Asia and shift the latter’s focus away from Africa Medco’s acquisition of Ophir Energy would create a significant player in East Asia and shift the latter’s focus away from Africa.
By Felix Janvrin 4 January 2019 0 33804
A seismic survey ship at work for Ophir Energy. (Ophir)

London-listed Ophir Energy has confirmed it has entered into talks with Medco Energi Global to be taken over by the privately owned Indonesian conglomerate. If the sale goes ahead, it would likely spell the end of Ophir’s focus on Africa.

In a statement on the talks, Ophir said “there can be no certainty that any offer will be made”, but that the deal will create a significant player in East Asia if it goes ahead. According to regulatory stipulations, a formal purchase...