(Image courtesy of Hess)

Hess has completed the sale of its Pangkah asset to a subsidiary of PT Saka Energi Indonesia  for $650 million.

PT Saka Energi exercised its preemption rights on the deal.

The deal includes the sale of equity interests intercompany debt.

Hess said the asset, located in offshore Indonesia, produced an average of 9,000 bpd in the first three quarters of 2013.

Kuwait Foreign Petroleum Exploration was also a partner in the asset.

Last month Hess entered into two separate agreements to sell its offshore indonesia interests in the Pangkah and Natuna A assets for $1.3 billion.


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