AWE tees up sale in Indonesia

By Russell Searancke

 31 January 2013 23:59 GMT

Australian independent AWE has started the process of selling up to 50% of the under-development Ande Ande Lumut oil project off Indonesia, writes Russell Searancke.

AWE said the estimated gross recoverable resource for the project is 76 million barrels of oil.

AWE’s proposed facilities for the field development include a wellhead platform and a leased floating production, storage and offloading vessel.

“We anticipate completing the sell-down of up to 50% of the project ahead of a final investment decision which is scheduled for the second half of 2013,” said AWE’s managing director Bruce Clement.

“We expect that Ande Ande Lumut will attract significant interest from Indonesian as well as international oil and gas companies and investors.”

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