Oil and gas company PT Medco Energi Internasional said a consortium comprising it, Japan Petroleum Exploration Co Ltd (Japex) and Russian oil firm OAO LukOil has failed in its bid to win exploration works at four oil and gas blocks in Libya.
It said the Libyan government announced the results of the tender on October 2. Medco said the bid for the Libyan blocks was part of its strategy to increase its oil and gas reserves through acquisitions.
