Bisnis.com, JAKARTA — BlackRock Inc. reversed course on the Panigoro family’s PT Medco Energi Internasional (MEDC) and started accumulating its shares following the company’s $425 million acquisition of Repsol subsidiary Fortuna International in June 2025.
The transaction is scheduled to complete in Q3 2025 and will transfer Fortuna’s 24% participating interest in the production sharing contract (PSC) for the Corridor block to Medco, increasing the latter’s stake in the Corridor block from 46% to 70%.
