Petrofac acquires Amerada Hess Malaysia-PM304 subsidiary

Petrofac Resources, the investment arm of the Petrofac Group, acquired Amerada Hess (Malaysia-PM304) Ltd., the Amerada Hess subsidiary that operates and owns a 40.5% interest in Cendor field off Peninsular Malaysia.

July 6, 2004

By OGJ editors

HOUSTON, July 6 -- Petrofac Resources, the investment arm of the Petrofac Group, acquired Amerada Hess (Malaysia-PM304) Ltd., the Amerada Hess subsidiary that operates and owns a 40.5% interest in Cendor field off Peninsular Malaysia.

The acquisition will make Petrofac the new operator. Other partners in the block are Petronas Carigali Sdn. Bhd. Carigali 30%, Kuwait Foreign Petroleum Exploration Co. 25%, and PetroVietnam Investment Development Co., a wholly owned subsidiary of Petrovietnam, 4.5%.

Cendor field is in the northeast corner of Block PM304 in about 70 m of water with principal producing horizons in the H Group of Middle Miocene sands. Oil production is expected in late 2006 or early 2007 (OGJ Online, Mar. 23, 2001).