Sona Petroleum buys Stag oil field from Santos, Quadrant for $50 mln

November 2, 2015 1:46 AM

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MELBOURNE Nov 2 Malaysia's Sona Petroleum Bhd has agreed to buy the Stag oil field off northwestern Australia from Santos Ltd and private firm Quadrant Energy for $50 million, Santos said on Monday.

Santos, scrambling to pay down A$8.8 billion ($6.3 billion)in net debt, had been looking to sell its two-thirds stake in the ageing field before it effectively put all its assets up for sale in August.

Also read: Australia’s BHP Billiton Wins Bidding for Stake in Mexico’s Trion Oil Field

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