Santos may sell Indonesian assets

Australian oil, gas firm Santos Limited may sell or farm-out its Indonesian assets.

A Petromindo.Com source said the company has been approached by several prospective buyers. The source did not give detail.

Energy Intelligence Group reported on Thursday that Santos has flagged the sale or farm-out of assets in Australia and Indonesia as it gears up for record capital expenditure next year, mainly on growth LNG projects in Queensland and Papua New Guinea.

A Santos Indonesia official, however, denied the plan. ?Thus far, there is no plan to sell Santos interest in Sampang PSC or Madura Offshore PSC,? Dody T. Mochtar, Santos Indonesia Government and Public Relations Manager told Petromindo.Com on Friday.

Santos holds a 40.5% interest in the Sampang PSC, which contains Oyong field and the Wortel gas discovery and a 67.5% interest in the Madura Offshore PSC which contains the Maleo field. The company also has interest in several exploration PSCs in Indonesia. (godang)