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Article: El Paso Corporation announces sale of shares in Indonesian production company.
- Article from:
- M2 Presswire
- Article date:
- July 23, 2004
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M2 PRESSWIRE-23 July 2004-El Paso Production Company: El Paso Corporation announces sale of shares in Indonesian production company(C)1994-2004 M2 COMMUNICATIONS LTD
RDATE:07232004
HOUSTON, TEXAS - El Paso Production Company, a subsidiary of El Paso Corporation (NYSE:EP), announced today that it has closed the sale of its shares in Coastal Indonesia Sampang Ltd. to Singapore Petroleum Company Ltd.
for $23.2 million plus working capital. Coastal Indonesia Sampang Ltd. owns a 40-percent working interest in the Sampang Production Sharing Contract, which provides exploration and drilling rights in Indonesia.
The sale supports El Paso's ...