Another Chinese foray abroad

What does PetroChina''s acquisition in Indonesia signal?

The Asian oil story continues to fill the M&A pipeline, and it is interesting to note that recent deals have seen Asian firms as buyers PTTEP of Thailand struck first late last year with an investment in Indonesia's PT Medco Then CNOOC bought Repsol's oilfields in Indonesia for $585 million

Now PetroChina has bought six oil fields in Indonesia from a US firm for $216 million The other foreign bidder was likewise an Asian company, Malaysia's Petronas

PetroChina's CFO, Wang Guoliang has predicted this will be the first of many deals and few doubt that PetroChina has a large warchest But will this be the first of many forays into Indonesia

Certainly, Indonesia is keen...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222