Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/interra-resources-in-us785m-deal-to-buy-south-suma.shtmlInterra Resources in US$78.5M deal to buy South Sumatran oil field
Interra Resources Limited inked a US$78.5 million sales & purchase deal – its largest ever acquisition – by buying a
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Interra Resources Limited inked a US$78.5 million sales & purchase deal – its largest ever acquisition – by buying a major, producing oil field in South Sumatra, Indonesia.
Interra Resources intends to buy 100% of PT Benakat Barat Petroleum and the agreement is expected to be completed within nine months. PT Benakat Barat Petroleum owns the Benakat Barat cooperation contract (KSO) with Indonesia’s PT Pertamina.
The addition of this new oil field will allow Interra Resources to significantly enhance its production and total reserves in Indonesia. The latest oil field is located close to the company’s Tanjung Miring Timur (TMT) field.
