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Indonesian oil major, Medco Energi has concluded the $517.34m acquisition of Ophir Energy. The UK-based exploration and production firm nodded to the proposed acquisition by Medco Energi in January, 2019. The estimated increase in Medco’s 2019 pro forma production will range around 29% to 110,000 boed. The $517.34 million all-cash acquisition was funded through a blend of existing cash resources and credit received under an agreement from Standard Chartered Bank.
