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Aabar, AWE farm-in deal
- United Arab Emirates: Sunday, June 17 - 2007 at 16:33
Aabar Petroleum Investments Company has revealed that its subsidiary PearlOil - Satria has entered into a farm-in arrangement with AWE - Satria NZ in which AWE will acquire a 42.5% participating interest in the Bulu production sharing contract offshore East Java, Indonesia. AWE will be responsible for the drilling costs for the first two exploration wells in the Bulu PSC contract area, up to a maximum amount of $12m.
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Jonathan Sheikh-Miller, Deputy EditorSunday, June 17 - 2007 at 16:33 UAE local time (GMT+4)
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This article was updated on Tue Jun 19 2007.
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