Hess Corp. has completed the previously announced sale of its Pangkah asset offshore Indonesia to a subsidiary of PT Saka Energi Indonesia, Hess said in a press release.
PT Saka Energi Indonesia exercised its preemption rights for a total after-tax consideration of US $650 million, comprising the sale of equity interests in certain holding entities and intercompany debts. The asset produced an average of 9,000 boe/d net to Hess in the first three quarters of 2013, according to the press release.
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