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.