CNOOC and Repsol have yet clinched deal on Indonesia oilfield: Source
Tuesday, January 15 2002 - 08:35 AM WIB
An Indonesian industry source said on Tuesday that news that China National Offshore Oil Corporation (CNOOC) had purchased a huge oilfield in Northwest Java Sea from Spanish-Argentinean oil, gas firm Repsol-YPF was ?premature? as no deal had been inked between the two parties.
?CNOOC has just expressed its interest and no deal has taken place yet,? said the source.
Reports in some media said that CNOOC had completed deal to buy majority stake at Repsol-YPF oil field in Northwest Java Sea for US$ 600 million
Repsol-YPF has been reported to intend to sell its entire Indonesian stakes in order to concentrate in America and North Europe, and state oil; gas firm Pertamina had submitted its bid to acquire the stakes. (godang)