Thursday, March 01, 2007

Mitsubishi acquires 50% Kangean Block, confirmed

PT Energi Mega Persada Tbk confirmed the signing of head of agreement (HOA) with Mitsubishi Corp & Japex Petroleum for the divestment of 50% shares in Kangean Block for USD360 million. Mitsubishi & Japex will own 25% working interests respectively in the block. The company didn't disclose terms and conditions of the HOA, except that it expect the definitive agreement to be signed this month.




Anonymous Anonymous said...

I bet they still can't get a controlling interest even after they payroll 50% of the project.

March 05, 2007 9:27 AM  

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