Malaysia?s Sitt Tatt enters into Indonesian E&P
Wednesday, August 24 2005 - 05:40 PM WIB
Malaysian firm Sitt Tatt Berhad announced on Wednesday it had signed joint venture agreement with PT Kutai Timur Resources and Prime International Consultants Proprietary Limited on 24 August 2005 to survey, study, mine, manage, revive, develop, explore, exploit and produce and subsequently sell or trade oil and gas from a number of wells located in three oil fields in East Kalimantan.
The company did not give further detail about the deal but saying that it has 30 percent equity interest in the venture with Kutai Timur and Prime International holding 55 percent and 15 percent, respectively.(alex)