Santos to snare oil field stake

Group to become operator of undeveloped Ande Lumut offshore oil field under deal with AWE Ltd.

Santos (STO) will buy a 50% stake in an undeveloped offshore oil field in Indonesia up to $US188 million ($209 million) from AWE (AWE), as part of its growth strategy in Asia. 

The oil giant inked the deal to buy a half share of the Northwest Natuna production sharing contract (PSC) – wholly owned by AWE – which covers the Ande Ande Lumut oil field.

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