UK-based Ophir Energy has agreed to acquire certain assets of Australian oil and gas firm Santos in Southeast Asia for $205m, according to a report published on energy-business-review.com on Thursday.
The package of assets, included in the transaction is made up of producing assets across Vietnam and Indonesia alongside exploration and appraisal assets in Malaysia, Vietnam and also in Bangladesh.
Ophir will be adding nearly 13,500boepd of net working interest production in 2018 through the deal along with around 21.2mmboe to its net working interest reserves.
The company, which has production, development and exploration assets across Africa and Asia, said that the deal is in line with its strategy of rebalancing its portfolio towards a larger production and cash flow base.
The company will buy 45 per cent operated stake in exploration Block SS-11 in Bangladesh, which is near the multi-Tcf producing fields across the Myanmar border.
Ophir has offered to buy Santos' stakes in the producing Block 12 W in Vietnam, which has around 23,600boepd of gross production and the Madura and Sampang blocks in Indonesia from Santos.
Gas production from the Oyong, Wortel fields in the Sampang block, and the Maleo and Peluang fields in the Madura block is 11,500boepd, said Ophir.
In Vietnam, Ophir will buy stakes of Santos in the Blocks 123 and 124 exploration permits in frontier Phu Khanh Basin, which is known to have large oil/LNG scale potential.
