EEX expects Indonesian asset sale to conclude this quarter
Tuesday, January 8 2002 - 03:07 PM WIB
Houston based oil firm EEX Corporation said in a statement Tuesday that it expected sales of its Indonesian interest would occur during the first quarter of 2002.
EEX on October 2001 offered its 25 percent interest in Tuban joint Operating body (JOB) in East Java for sale. Another US oil, gas firm Devon Energy holds 25 percent interest in Tuban, while state oil and gas firm Pertamina holds the remaining 50 percent. Mudi oil field in Tuban currently produces crude in excess of 10,000 barrels per day.
Earlier, EEX said that the book value for its Indonesian asset was US$ 25 million.
EEX said that it had received some preliminary bids from unspecified buyers for its assets. (alex)