Harbour Energy has completed the US$215 million divestment of its participating interests in the Natuna Sea Block A and in the Tuna Block to Prime Group.The transaction is one of three announced last December as part of the firm's effort to strengthen its portfolio and focus resources on the most competitive opportunities.
Steve Cox, managing director of Harbour’s Indonesian business unit, described the sale as a strategic milestone for the company.
“The sale of most of our Indonesia assets marks a strategic milestone for Harbour, demonstrating our disciplined approach to managing our portfolio and follows our country exit from Vietnam last year,” Cox said in a statement issued on Tuesday.
“I'm grateful to our Indonesian colleagues for their work on these assets over the years and wish them well in their next chapter.”
London-headquartered Harbour was the operator of both blocks, holding a 28.67 percent interest in the producing Natuna Block A and a 50 percent stake in the under-development Tuna Block.
