Australian upstream company Santos Ltd has sold off the subsidiaries holding its 61.1% operated interests in the Bentu and Korinci-Baru Production Sharing Contracts (PSC) in Central Sumatra in Indonesia.
“Divestiture of these subsidiaries is in line with company strategy of focusing its Indonesian activities in East Java,” the company said in a statement.
Santos has accepted offers from Asian Worldwide Group Ltd for the Bentu subsidiary and Global Overseas Enterprise Ltd for the Korinci Baru subsidiary. Relevant government approvals for the sale are in place, it said.
Santos Limited is a major Australian oil and gas exploration and production company with interests in all Australia, the US, Indonesia and Papua New Guinea.