SK Innovation to Sell Stakes in Two Gas Peruvian Gas Fields

Source Press Release
Company PluspetrolSK Innovation Co. Ltd 
Tags Asset Deals, Deals, Upstream Activities
Date September 27, 2019
1. Title  Divestiture of Block 88 and Block 56 of Peru 
2. Details  1. Purchaser: Pluspetrol

2. Price Consideration: USD 1,052million (*)
(*) This will be adjusted by Price Adjustment at closing.

3. Scheduled date for signing Purchase and Sale Agreement: September 27, 2019 (Peru Time)

4. Details of Disposal: 17.6% interest of Block 88 and 17.6% interest of Block 56 
3. Date of Board Resolution (Decision Date) or Date Confirmed  2019-09-27 
- Attendance of Outside Directors  Present(No.) 
Absent(No.) 
- Attendance of Auditors (members of Audit Committee) 
4. Other references useful for making invest decisions 
1) Approval from Peruvian government is required to complete the transaction.

2) In section 2. 2. Expected transaction amount exceeds 2.5% of total asset (KRW36,085,384,070,121) or shareholders' equity (KRW19,327,982,664,987) of SK Innovation based on FY2018 consolidated financial statement. 
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