OCEANIA

Santos steps away from Indonesian mudflow block

SANTOS has, in an unsurprising move, transferred its 18% stake in the Brantas production sharing contract to Minarak Labuan, potentially reducing its exposure to the mudflow disaster that struck East Java's Sidoarjo district in 2006.

The company said the transfer to Minarak - a company associated with Brantas PSC operator Lapindo Brantas - has been approved by Indonesian upstream regulator BPMIGAS. Under the deal, Santos will pay...

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