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2016-09-21 18:35:00

CONOCO SELLS INDONESIA

CONOCO SELLS INDONESIA

 

conoco indonesia asset

 

TOGY wrote, US major ConocoPhillips will sell its 40% operating interest in the South Natuna Sea oil and gas production-sharing block B to Indonesian player Medco Energi, the latter announced on Monday.

In a statement, Medco confirmed reports from last week that a transaction was in the making. The deal is expected to close in Q4 2016. ConocoPhillips has held the South Natuna Sea Block B for close to 50 years. The company had 12 years left on its production-sharing contract.

Medco said its daily output is forecast to increase by more than 35% with the acquisition, with an expected addition of some USD 100 million in earnings annually before interest, taxes, depreciation and amortisation.

In late June, Indonesia said it would increase exploration work in the area surrounding the Natuna Islands, located in the contested waters of the South China Sea. In addition to ConocoPhillips, Chevron is expected to withdraw from the field.

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Earlier:

INDONESIA: 

MALAYSIAN - INDONESIAN LNG 

IRAN & INDONESIA AGREEMENT 

IRAN - INDONESIA COOPERATION 

INDONESIA STARTS OUTPUT 

INDONESIA & BP: 10,000 JOBS

 

CONOCO: 

CONOCO NET LOSS $2.54 BLN 

CONOCO NET LOSS $1.5 BLN 

CONOCO NET LOSS $4.4 BLN 

CONOCO: TO REACT QUICKLY 

CONOCO SELLS RUSSIA

 

 

Tags: CONOCO, INDONESIA

Chronicle:

CONOCO SELLS INDONESIA
September, 22, 08:50:00

RUSSIA - KURDISTAN INVESTMENT

Instead, with the planned referendum just days away, Russian state oil giant Rosneft announced its latest investment last week, to help Iraqi Kurdistan develop its natural gas industry, for domestic supplies and eventual export.

CONOCO SELLS INDONESIA
September, 22, 08:45:00

IRAN'S GAS EXPORT: ABOVE 5 BCM

Iran exported over 5 billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), Dispatching director of National Iranian Gas Company (NIGC) announced.

CONOCO SELLS INDONESIA
September, 22, 08:40:00

IRAQI OIL TO U.S.

Gazprom Neft has shipped its second and largest cargo of Iraqi crude to the US since the Badra field, its flagship overseas oil project, came on stream in 2014, the Russian oil company said Tuesday.

CONOCO SELLS INDONESIA
September, 22, 08:35:00

QATAR - TURKEY LNG

Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years

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