Serica Indonesia holds Serica Energy’s Indonesian operating units and exploration assets including an operated 30% interest in the Kutai PSC onshore and offshore East Kalimantan, an operated 100% stake in the East Seruway PSC off Sumatra, and rights relating to certain Indonesian joint study areas.
Kris Energy has paid a consideration of $3.14m to Serica and reimbursed a further $0.3m in respect of expenditures relating to those properties.
A further deferred consideration of up to $1.5m becomes payable to Serica in the event of future awards of licence interests in the joint study areas to Kris Energy.
Serica Energy’s 25% interest in the producing Kambuna gas field is not included in the sale.
