Repsol's RI sale deal fails

Repsol's RI sale deal fails

MADRID (Reuters): Spanish energy group Repsol said that a
China National Offshore Oil Corp (CNOOC) unit told Repsol that
the CNOOC unit could not buy Repsol's Indonesian exploration and
production assets.

The unit, Offshore Oil and Gas Corp Ltd, told Repsol the
Chinese government had not authorized the purchase which had been
announced in January, Repsol said in a statement.

The assets represent two stakes in exploration and production
in areas in North West Java and South East Sumatra, situated in
the coastal platform in Indonesia. Repsol participates here
through its Repsol (Java) Ltd, Repsol (Sumatra), E&P Ltd and
Repsol Exploracion Sunda BV.