Clough sells stake in PT Petrosea Tbk

Clough has entered into a binding Heads of Agreement to sell its 82% stake in PT Petrosea Tbk to PT Indika Energy Tbk for $83.8 million.

Offshore staff

PERTH, Australia -- Clough has entered into a binding Heads of Agreement to sell its 82% stake in PT Petrosea Tbk to PT Indika Energy Tbk for $83.8 million.

As part of this sale, Indika Energy and Clough have agreed to collaborate on future joint ventures in offshore oil and gas projects in Indonesia, through Tripatra, a subsidiary company of Indika Energy.

02/26/2009

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