EEX Corp., Houston, sold its Indonesian assets to PT Medco Energi International for $26.3 million in cash. EEX sold all of the shares of a subsidiary that owns a 25% interest in the Tuban concession, onshore Java. Benton Oil and Gas Co., Houston, has sold its interest in Arctic Gas Co. to Yukos Oil Co. for $190 million. Aurado Exploration Ltd., Toronto, plans to acquire the rights to an onshore petroleum concession, Block III, in western Turkmenistan near the Caspian Sea from Oil Capital Ltd., Cairo, for US$76 million. Antrim Energy Inc., Calgary, sold its entire interest in its New Zealand assets to Swift Energy Co., Houston, for 220,000 common shares of Swift and approximately US$530,000 in cash. PetroChina Ltd. plans to acquire the Indonesian operations of Devon Energy Corp., Oklahoma City, for $262 million. Devon's Indonesian properties have estimated proved reserves of approximately 80 million equivalent bbl., 20% proved developed producing. The properties produced approximately 1.1 million BOE, net, during first-quarter 2002. Petrobank Energy Resources Ltd., Calgary, plans to acquire AEC Colombia Ltd. AEC holds interests in two production contracts and three exploration contracts in the Putumayo and upper Magdalena basins of Colombia. Heritage Oil Corp., Calgary, plans to sell its 30% interest in the Kouilou exploration license in Congo to Maurel & Prom, its joint-venture partner and the permit operator, for C$35 million in cash and notes. BP Plc acquired a 15% stake in Russian producer Sidanco from Alfa Group and Access-Renova for $375 million, increasing its stake from 10% to 25%. Sidanco produces 380,000 bbl. of oil a day, gross. A&B Geoscience Corp., Central Milton Keynes, U.K., plans to sell 62.83% of its interest in its southwest Gobustan exploration, development and production-sharing agreement in Azerbaijan to Rosco SA for US$4 million in cash and a project-financing commitment of US$20 million. OAO Yukos, Moscow, Russia's second-largest integrated oil company, has acquired a 49% interest in Transpetrol. Transpetrol owns a stretch of the Druzhba pipeline, the main export route for Russian oil to central Europe. -Crystal Cleveland-Kappes
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