Santos farms out from Bentu and Korinci-Baru PSC
Wednesday, November 19 2003 - 02:40 AM WIB
Australian listed oil company Santos Limited announced Wednesday the sale of the subsidiaries holding its 61.1 percent operated interests in the Bentu and Korinci-Baru Production Sharing Contracts (PSC) in Central Sumatra, Indonesia.
Santos said it had accepted offers from Asian Worldwide Group Ltd for the Bentu subsidiary and Global Overseas Enterprise Ltd for the Korinci Baru subsidiary.
?Divestiture of these subsidiaries is in line with company strategy of focusing its Indonesian activities in East Java,? Santos said. (robert)