Nido, Kairiki find partner for Tindalo development

NIDO Petroleum and Kairiki Energy have partnered up with one of the world’s largest trading commodities, Trafigura, for the development of the Tindalo oil field in SC 54A, offshore Northwest Palawan Basin, Philippines.

Nido, who holds a 60% interest in SC 54A, will farm-out 10% for a cash payment of $8.4 million, while Kairiki Energy will farm-out 5% of its 40% interest for a cash payment of $4.2 million.

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