AWE appoints adviser for AAL sell-down
Tuesday, January 29 2013 - 07:11 AM WIB
ASX-listed firm AWE Limited on Tuesday announced it had appointed Credit Suisse as its adviser for the planned sell-down of up to 50 percent of the Ande Ande Lumut (AAL) oil project, offshore Indonesia.
AWE currently owns 100 percent and is the operator of the North West Natuna PSC where the AAL project is located, it said in a filing.
An independent audit of the oil field?s contingent resources will be undertaken as part of the sale process and binding offers are anticipated in mid-2013.
The AAL project is located in the Natuna Sea, offshore Indonesia, within the North West Natuna PSC. The PSC was acquired, along with the Anambas PSC, in February 2012. The AAL field area is 21 km2 with a reservoir depth of 1,100m subsea (water depth approximately 73m).
Editing by Dadan Wijaksana