Hyoil poised to enter offshore Indonesia permit

AWE has agreed to sell its 42.5% interest in the Bulu PSC offshore East Java to a subsidiary of Hyoil for up to A$27.5 million ($20.3 million).

Offshore staff

NORTH SYDNEY, Australia – AWE has agreed to sell its 42.5% interest in the Bulu PSC offshore East Java to a subsidiary of Hyoil for up to A$27.5 million ($20.3 million), subject to Indonesian government approval.

The PSC includes the undevelopedLengo gas discovery.

Current partners are:

AWE 42.5%

KrisEnergy (operator) 42.5%

PT. Satria Energindo 10.00%

PT. Satria Wijayakusuma 5.00%

05/06/2016

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