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Octanex negotiations with Petronas completed

OCTANEX has closed negotiations for its exit from the Ophir oil field in the offshore peninsular of Malaysia and has handed over responsibility for the well head platform, wells and pipeline to Petronas marking the end of what has been a frustrating campaign for the Melbourne junior.

paul hunt
Octanex negotiations with Petronas completed

  It has been a disappointing 12 months for Octanex which was forced to divest the oil field joint venture interest, which it held through a risk service contract, after the field was plagued by problems...

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