07/06/2001
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BP acquires Cairns stake in Tangguh field in Indonesia
BP PLC said it has acquired Cairns Ltd., a subsidiary of Genting Berhad of Malaysia, for $107 million and a deferred share of about 3% of net profit from Tangguh field in Indonesia. Tangguh, with 14.4 tcf of proved reserves, covers three production-sharing agreements. BP already held interests in two of them.