HONG KONG (dpa-AFX) - CNOOC Limited's (CEO) subsidiary, CNOOC Southeast Asia Limited, sold CNOOC ONWJ Ltd. to EMP International (BVI) Ltd or 'EMPI' for about $212 million. CNOOC ONWJ Ltd. holds a 36.7205% working interest in Offshore Northwest Java Production Sharing Contract or ONWJ PSC in Indonesia.
The Operator of the ONWJ PSC is PT Pertamina Hulu Energi ONWJ. As at the end of 2010, the company's share of net proved reserves in ONWJ PSC was 22.26 million barrels of oil equivalent or BOE, and the daily average production of oil and gas from ONWJ PSC for the first nine months of 2011 was nearly 62,000 BOE while the net entitlement to the company was about 14,000 BOE per day.
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