Indonesia To Acquire Harvest's Oil Reserves In Venezuela
From The Jakarta Globe
Pertamina, Indonesia’s state- owned oil company, will buy Houston-based Harvest Natural Resources Inc.’s oil assets in Venezuela for $725 million in cash as it sets out to acquire reserves in South America.
Harvest will sell its 32 percent stake in Petrodelta SA, a joint venture with Petroleos de Venezuela SA, the company said yesterday in a statement. Petrodelta’s six fields hold gross proved reserves of 195 million barrels of oil and 235 billion cubic feet of gas, according to Harvest Natural’s website.