Carnarvon divests remaining assets in Thailand

Carnarvon Petroleum Ltd.

Carnarvon Petroleum Ltd. has entered into a sale and purchase agreement (SPA) to divest its remaining 20% interest in the Thailand oil production concessions L44/43, L33/43 and SW1A to the Berlanga Group for $58.2 million (AUD 68.5 million).

The SPA was entered into with Berlanga Thailand Ltd., a member of the Berlanga Group, and a deposit of $2 million (AUD 2.3 million) was received by Carnarvon upon signing the SPA.

Completion is currently scheduled to occur on or before Feb. 16, 2015.

Carnarvon Petroleum was advised by Miro Advisors and King & Wood Mallesons. Berlanga Thailand Ltd. was advised by Silverhorn Investment Advisors and K&L Gates.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...