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AWE Limited (ASX:AWE) is poised to invest $US139 million into acquiring growth assets in Indonesia.
The oil and gas company has inked a deal to buy two production sharing contracts offshore Indonesia for $US39 million.
The contracts include an underdeveloped oil field with an estimated 76 barrels of recoverable oil.
AWE will also take on related loans and receivables for about $US100 million.
The acquisition is expected to be completed by next month.
The final investment decision is expected at the end of this year and first production is being targeted for the end of 2014.
In the 2011 financial year AWE booked a net loss of $118 million.
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