Hess gets $58m profit from S. Sumatra asset sale
Wednesday, April 28 2010 - 05:18 PM WIB
US oil, gas firm Hess Corp. reported on Wednesday that it booked after tax income of US$58 million from the sale of its 25 percent interest in Jambi Merang PSC onshore South Sumatra.
The Company in January 2010 sold its entire 25 percent interest in the block to Canadian oil, gas firm Talisman Energy for US$183 million.
The block is operated by state oil, gas company PT Pertamina(Persero), which has 50 percent interest, under JOB structure.
The block is slated to start production this year with peak production of 120 MMCFD.(alex)