Petronas Buys Stake in Andaman III Block
Malaysia's state-owned oil and gas company Petronas has acquired 49% of Repsol SA's participating interest in Andaman III oil and gas block off the coast of Aceh, Indonesia, according to a Petronas statement released on Monday.
Repsol will still hold a 51% stake in the block after the deal.
The Andaman III block was initially awarded by the Indonesian government to Talisman Energy, but was transferred to Spain's Repsol after it acquired the Canadian oil company in 2015.
"This latest acquisition bolsters Petronas' long-term growth plans in Indonesia and is a testimony of our commitment to support the development of the oil and gas industry in Indonesia," Mohd Nazlee Rasol, director of Petronas Andaman III Indonesia B.V., said in the statement.
(Reporting by Wilda Asmarini; Editing by Gayatri Suroyo and Aditya Soni)
Related Stories
Baker Hughes Sets Up Global Network to Bolster Mature Oil and Gas Fields Production
Valaris Secures $600M in New Contracts as Backlog Rises to $4.8B
Production Restart at Australian Offshore Fields Boosts Jadestone's Oil Output
Aramco Targets Hormuz Bypass with East-West Pipeline Expansion
CNOOC Set to Restore Production at Major South China Sea Gas Field
TotalEnergies to Take Operatorship of Two Major Gas Fields off Malaysia
Strohm Nets Ultra-Deepwater Supply Deal for Southeast Asia’s Gas Scheme
Energy Drilling Lands $87M Drilling Job Offshore Malaysia
Seatrium Inks $390M Deal to Complete Four Offshore Rigs for Keppel’s Rigco
Indonesia's Jangkrik FPU Set for Major Gas Output Boost
Current News
Velesto’s Jack-Up Rig Up for Drilling Job with Petronas
Tender-Assist Rigs: Southeast Asia’s Quiet Workhorses Head for Full Utilization
Aker Solutions Lands Major Role in Qatar’s Offshore Oil Field Revamp
TotalEnergies Inks 15-Year LNG Supply Deal with China's Jiangsu Guoxin
Baker Hughes Sets Up Global Network to Bolster Mature Oil and Gas Fields Production
Valaris Secures $600M in New Contracts as Backlog Rises to $4.8B
Production Restart at Australian Offshore Fields Boosts Jadestone's Oil Output
Aramco Targets Hormuz Bypass with East-West Pipeline Expansion
ADES Lands New Offshore Drilling Rig Deals in Angola and Indonesia
Shell to Exit Australia's North West Shelf Project in $1.45B Deal with XRG
Magazine
Offshore Engineer Magazine
Subscribe for AOG Digital E‑News
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week