Asia

Total sells Indika stake in Papua oil & gas field

Jakarta: French energy major Total is selling 10% of its stake of an oil and gas field in Papua to publicly listed energy company PT Indika Energy for an undisclosed sum.

“This purchase will further strengthen our energy platform,” Indika president director Arsjad Rasjid said in a statement. “It will leverage Indika Energy’s in-depth understanding of the local market context and create synergies with our activities in Papua.”
Meanwhile, Elisabeth Proust, Total’s representative in Indonesia, said: “This transaction is the first step in developing wider cooperation between Total and Indika Energy and demonstrates Total’s ability to team up with quality local partners to explore and develop Indonesian oil and gas resources.”  [22/02/13]

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