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BP to sell Indonesian oil and gas production facilities to Pertamina

BRITISH energy group BP is to sell 218 offshore oil and gas production facilities in Indonesia to state firm Pertamina for $280m. BP will be divesting its 46% interest in the offshore North West Java concession after around 30 years of production. The deal includes BP’s stake in 218 offshore structures, including manned production and gas compression platforms and several wellhead platforms. It also includes 1,250 km of pipelines and three onshore gas reception facilities. The facilities in the 8,300 sq km area produces around 22,000 barrels of oil and 220m cu ft of gas per day, feeding energy to industrial users in Jakarta. The other partners in the area includes China’s offshore operator China National Offshore Oil Corp and Japanese companies Inpex and Ithochu. BP can focus on further developing gas fields in Papua state of Indonesia via the new Tangguh liquefied natural gas plant, which is set to commence exports at the end of this month. Meanwhile, BP has chosen a new chairman to take over from Peter Sutherland, who is retiring. After a year of searching, BP decided to appoint Carl-Henric Svanberg, who is chief executive of the Swedish telecommunications group Ericsson, as its new chairman from the start of next year. Mr Svanberg would be joining the BP board at the beginning of September and would work alongside Mr Sutherland until the end of the year, said a BP spokesman.

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