Company News - Mitsui to acquire BG's stake in Indonesia's Muturi PSC

Mitsui Indonesia Gas BV, a wholly owned unit of Mitsui & Co. Ltd., agreed to acquire BG Group's 50% interest in the Muturi production-sharing contract (PSC) in West Papua, Indonesia, for $236 million.BG's interest in the Muturi PSC provides it with a 10.73% interest in the Tangguh LNG project, based on independently certified proved reserves. The deal is expected to become effective Jan. 1.In other upstream news:Exco Resources Inc., Dallas, announced plans to acquire North Coast Energy Inc., Twinsburg, Ohio, in a tender offer worth about $164 million, or $10.75/share.Banco Santander Central Hispano SA (SCH) said the Netherlands Arbitrage Institute has ruled against the bank and in...

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