Pertamina, Jambi to sign deal to purchase Devon?s assets

The state-owned oil and gas company Pertamina and the Jambi provincial administration will sign a deal today (Thursday) to team-up in the purchase of assets belonging to U.S.-based oil company Devon Energy, according to Pertamina upstream director Iin Arifin Takhyan.

Devon Energy plans to sell several Indonesian oil blocks in a bid to raise cash to focus investment in other countries.

Devon oil blocks assets are located in Jambi, East Java, and Irian Jaya.(Godang)