KNOC Acquires Stake in Indonesia Field
Tuesday, March 18, 2003
KNOC is acquiring an 8.95 interest in an oilfield offshore Sumatra, Indonesia from Itochu. This acquisition will add approximately 9,000 barrels of crude per day and about 45 million barrels of recoverable crude reserves to the company's upstream portfolio.
The field is operated by CNOOC and other partners in the field are Paladin Resources, Mitsubishi Corp and Inpex.