Serica completes sale of assets in SE Asia
Monday, January 25 2010 - 06:06 PM WIB
UK oil, gas firm Serica Energy plc is pleased to confirm that it has now completed the sale announced on 7 December 2009 of certain of its interests in South East Asia to KrisEnergy Limited.
The assets sold comprised a 25% interest in the Kambuna gas field in Glagah Kambuna TAC, offshore North Sumatra, a 24.6% interest in the Kutai PSC in East Kalimantan and a 33.33% interest in the Block 06/94 PSC in Vietnam.
The cash amounts received by Serica total US$105.4 million including base consideration plus working capital and interim period adjustments, the company said.
Serica's interests in Indonesia now comprise a 25% interest in the Kambuna field, a 30% interest in the Kutai PSC and a 100% interest in the East Seruway PSC. The Company no longer holds any interests in Vietnam.(alex)