PHE, Anadarko close deal on assets sale

By Godang Sitompul

PT Pertamina Hulu Energi (PHE) has closed a deal with Adadarko to acquire the latter?s assets, according to acting Director Tenny Wibowo.

?Yes, we closed the deal with Anadarko this afternoon,? Tenny told petromindo.com on Friday.

PHE has said that in Nunukan block, where Anadarko is the operator, the main focus will be exploration well drilling which is expected to start in the middle of this year. It will also have a participating interest in the production sharing contracts of Bukat and Ambalat.

Before the deal, Anadarko was the Nunukan PSC operator with 35 percent interest. Medco Energi has 40 percent interest in the block with the balance equally shared by Indian firms Videocon Industries Limited and Bharat PetroResources Limited.

Editing by Dadan Wijaksana