KrisEnergy has completed a sale and purchase agreement with BP for the disposal of its 30% non-operated working interest in the Andaman II production sharing contract in the Malacca Strait, Indonesia.
The consideration for the disposal is US$15 million, subject to a retention sum of US$1.7 million which may be used by BP to offset against any payment obligations that may become due by KrisEnergy from the completion date until 31 December 2021.
Image courtesy of KrisEnergy
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/08042020/krisenergy-completes-sale-of-andaman-ii-offshore-block-to-bp/
“The decision by OPEP+ to continue with its recently agreed 2 million barrels per day (b/d) production cut through the end of 2023 is not a surprise”, says Ann-Louise Hittle, Vice President, Macro Oils, at Wood Mackenzie.