October 19, 2017

ConocoPhillips to sell stake in oil, gas block in Indonesia

ConocoPhillips to sell stake in oil, gas block in Indonesia

U.S. oil and gas company ConocoPhillips is reviewing its portfolio in Indonesia and may soon seek buyers for a stake in a production sharing block it operates in the Natuna Sea, company and government sources said.

The company has proposed to upstream oil and gas regulator SKKMigas to open its data room for the South Natuna Sea Block B, the agency’s spokesman Elan Biantoro told Reuters, noting that such requests were usually made by companies “that want to farm out their participating interests.”

ConocoPhillips was opening the data room to offer its share to other investors, spokesman Joang Laksanto confirmed to Reuters. Read more

 

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