APACHE INTERNATIONAL ACQUIRES INTERESTS IN INDONESIA
APACHE INTERNATIONAL ACQUIRES INTERESTS IN INDONESIA DENVER, Nov. 21 /PRNewswire/ -- Apache International Inc. today
announced that it acquired a 50-percent interest in the Padang Panjang production sharing contract in the Republic of Indonesia from Hunt International Petroleum Co. (Indonesia) of Dallas, subject to Indonesian government approval.
The production sharing contract covers a block of approximately 2.2 million acres in west-central Sumatra, Indonesia. The first well in a multi-well exploratory program is scheduled to be drilled in late 1992. Hunt will operate the block. Prior to acquiring this interest, Apache International held a 25-percent interest in a 2.9 million-acre contract in the Java Sea. Apache International's participation is subject to Indonesian government approval. Apache International also holds exploratory interests in Angola, Australia, Congo and France and holds production interests in Western Australia. The company is a wholly owned subsidiary of Apache Corp. (NYSE: APA), an independent energy company engaged in exploration for and development and production of natural gas and crude oil. Apache Corp.'s securities are traded on the New York and Midwest Stock Exchanges (symbol: APA). -0- 11/21/91 /CONTACT: Jeanne Buchanan of Apache, 303-837-5017/ (APA) CO: Apache International Inc.; Apache Corp. ST: Colorado, Texas IN: OIL SU: BB -- DV003 -- 5858 11/21/91 11:52 EST
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|Date:||Nov 21, 1991|
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