First Australian Resources (FAR) is to sell its 5% stake in Block 22/12 in the Beibu Gulf off China to South Korea's Majuko Group unit South Sea Oil.The sum of US $8m will be paid in three tranches. The first $2m will be paid within 14 days, while the next $3m will be paid upon approval of an oil field development programme or if commercial development of the project proceeds. The final $3m will be paid once the project has produced 1m bbl of oil.
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机译：First Australian Resources（FAR）计划将其在中国北部湾北部22/12区块5％的股份出售给韩国Majuko Group子公司South Sea Oil，总价为800万美元，分三期支付。首笔200万美元将在14天内支付，接下来的300万美元将在油田开发计划批准或项目进行商业开发后支付。一旦该项目生产了100万桶石油，将最终支付300万美元。
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