AWE Oil Project in Indonesia Lures Potential Asian Partners
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AWE Ltd., the Australian explorer planning a $600 million oil project off Indonesia, said it has been approached by Asian companies interested in a partnership to help fund and develop the venture.
The company plans to sell as much as 50 percent of the Ande Ande Lumut project to a partner late in the first half of 2013, Bruce Clement, managing director of Sydney-based AWE, said in a phone interview. An investment decision is targeted by the third quarter of next year, he said.