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Pertamina Snaps Up Basker Manta Stake

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Pertamina Snaps Up Basker Manta Stake

By Upstream staff

Roc Oil offshoot Anzon Australia has sold a 10% stake in the Basker Manta Gummy project off the Australian state of Victoria to Indonesia's Pertamina for $31.5 million.

Pertamina will buy a 10% interest in production licences VIC/L26, VIC/L27 and VIC/L28 off Victoria, which include the BMG project.

Basker Manta Gummy Project

Roc will retain a 30% interest in and remain operator of the BMG project.

The effective date of sale is 1 April 2009 and completion is expected in the third quarter 2009.

Once the deal is completed, BMG joint venture participant interests will be Anzon Australia as the operator on 30%, Beach Petroleum also on 30%, CIECO Exploration & Production on 20%, Sojitz Energy with 10% and Pertamina on 10%.

Pics from Rigzone and Majari Magazine.

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