NZOG starts Indonesian assets divestment process
Friday, June 2 2017 - 12:55 AM WIB
ASX-listed New Zealand Oil & Gas has commenced process to divest its lowest priority part of its portfolio in Indonesia.
The company did not give detail.
Divestment process is part of its strategic review of its entire Indonesian portfolio.
The company has a number of E&P assets in Indonesia including 22.5% interest in Kisaran PSC, Onshore North Sumatra, Palmerah Baru onshore South Sumatra (36%), Bahorok PSC onshore North Sumatra (45%), indirect interest in Sampang PSC offshore East Java, Mahato PSC in Central Sumatra and in Mahakam Ilir PSC in East Kalimantan, The company also has interest in three shale exploration blocks namely Kisaran (11.25%), Bahorok (20.25%) and Palmerah (15.84%).