Indonesian oil and gas company PT Medco Energi International said Friday it is planning to select the winning bidder for its 52 percent stake in rig operator PT Apexindo Pratama Duta in the second week of November.

"We have shortlisted the bidders to six but I cannot disclose their names," Medco president Hilmi Panigoro told Thomson Financial. He said Medco is hopeful the deal can be completed before the end of the year. Local newspaper Investor Daily said the bidders included two local companies -- Recapital Advisor Group and PT Bormindo Nusantara.

Earlier this month, Seadrill Ltd sold its entire 32 percent stake in Apexindo for US $220 million. Seadrill said it made a gain of US $150 million from the sale. (1 US dollar = 9,071 rupiah)