Santos Ltd announces the sale of the subsidiaries holding its 61.1% operated interests in the Bentu and Korinci-Baru Production Sharing Contracts (PSC) in Central Sumatra, Indonesia.Divestiture of these subsidiaries is in line with company strategy of focusing its Indonesian activities in East Java.
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.
Santos Limited is a major Australian oil and gas exploration and production company with interests in all Australian hydrocarbon provinces. The Santos group also operates in the USA, Indonesia and PNG.
