Risco Energy Pte. Ltd., Singapore, will buy Salamander Energy PLC’s 5% interests in the Offshore Northwest Java and Southeast Sumatra PSCs in Indonesia for $55 million plus $1.3 million in working capital adjustments.
A further deferred cash consideration is payable upon the buyer’s participation in any extension of the ONWJ PSC.
Production attributable to the net 5% interests averaged 6,000 boe/d in the first half of 2011, and net proved and probable reserves are 13 million boe at midyear 2011. The blocks came into production in 1971 and are on long-term decline. PT Pertamina Hulu Energi operates ONWJ, and CNOOC Ltd. operates SES Ltd.