Armstrong added a 15% working interest to its 30% working interest in initial development area near Colville River Delta where the majority of exploratory and appraisal drilling activities is occurring.
Comprehensive system field trials were held in north Sumatra before the sale. PT Elnusa Tbk’s deputy director of geoscience said the first project will be in Java.
DEA Group and LetterOne didn’t give financial details, but a LetterOne spokesman confirmed the sale. In April, Britain's Energy Ministry gave Fridman six months to dispose of fields, Reuters said.
The assets include the non-operated interest in the producing Singa gas field and the operated interests in the South Sokang and Cendrawasih VII blocks, as well as the joint study agreement concerning the Cendrawasih VIII Block, the release said.
The deal underlines investors still see value in North Sea related businesses, despite a slump in oil prices and high operating costs.
Following negotiations, Tullow has regained its 7.5% stake in the Onal Complex producing fields and the Ezanga block (formerly the Omoueyi exploration block). In addition, Tullow said it has been granted license extensions in the Onal Complex fields until 2034 and has gained access to two small oil discoveries made within the Ezanga Block in 2014.
In all, 36 companies from 17 countries - including Petrobras, ExxonMobil, BP and Shell - registered. No majors have bid so far. A few sold blocks were contested, Reuters said.
The day after Group 42 and Radoff disclosed their ownership in VAALCO, the company's board of directors adopted a shareholder rights plan—or a poison pill.
The amount was undisclosed, and Simmons was Flowell’s financial adviser. Flowell is based in Aberdeenshire in the U.K. UMS Unique Manufacturing Solutions was also acquired.
Egypt's state gas company EGAS said in a statement it had awarded one license to Britain's BP and one to Italy's Edison. A consortium involving BP and Eni's Egyptian subsidiary had also picked up a block as had another consortium involving Eni, BP and France's Total.
Total sees more opportunities in Iran on the LNG side than in conventional oil developments, analysts say.
Oil Search rejected proposed all-share offer from Australia's biggest oil and gas producer in September, saying offer undervalued LNG stake and gas exploration assets in Papua New Guinea, Reuters said.