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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
2017, December, 15, 12:50:00

LUKOIL'S PLAN: $50

LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.

CONOCO SELLS INDONESIA
2017, December, 15, 12:45:00

BP INVESTS TO SOLAR

BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.

CONOCO SELLS INDONESIA
2017, December, 13, 12:40:00

OIL PRICE: ABOVE $64 YET

REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.

CONOCO SELLS INDONESIA
2017, December, 13, 12:35:00

RUSSIAN-TURKISH NUCLEAR

ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.

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