Energi Mega To Buy 36.7% Stake In ONWJ Block From CNOOC

by Monica Gerson, Benzinga Staff Writer

December 22, 2011 5:19 AM | 14 seconds read | Make a Comment

PT Energi Mega Persada, a firm controlled by Indonesia's Bakrie group, announced its plans to acquire a 36.7% stake in Offshore North West Java (ONWJ) oil and gas block from CNOOC Ltd

CEO

for $212 million. CNOOC shares closed at $173.41 yesterday.

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Energi Mega To Buy 36.7% Stake In ONWJ Block From CNOOC