Chinook Energy Inc (Chinook) reported on 19 August 2014 that it completed the sale of its Tunisian assets to Medco Tunisia Petroleum Ltd (Medco), a subsidiary of PT Medco Energi Internasional Tbk effective 1 January 2014. The deal was initially planned to be completed by December 2014.On 15 June 2014, Chinook’s subsidiary Storm Ventures International signed an agreement with Medco to sell all of its interests in Tunisia for USD 127.7 million.
Chinook, through its local subsidiary had interests in eight permits: four development leases namely,
Adam (5%), Cosmos (op, 80%), Yasmine (100%), Bir Ben Tartar (op, 86%); and four exploration contracts namely, Sud Remada (op, 86%), Borj El Khadra (5%), Hammamet Offshore (op, 35%), Jenein Centre (op, 65%).
Indonesian PT Medco Energi has interests in Indonesia, Oman, Yemen, Lybia, Papua New Guinea andGulf of Mexico.
