Sydney-based EWC yesterday said it now owns El Paso Energy’s interests in the Sengkang power project, which consists of a gas-fired power plant supplied by its namesake gas field in Indonesia.
The company said it had paid $US61.2 million ($A80.7 million) for El Paso Energy’s 50% interest in Energy Equity Epic (Sengkang) and its 47.5% interest in PT Energi Sengkang.
As a result, EWC now owns 100% and 95% interest in the two assets, respectively.
Last month, the two companies withdrew a litigation between them after reaching the Sengkang purchase and sale agreement by mutual consent.
