4 firms into next round of bidding for Hess assets

By Godang Sitompul

Four companies have reportedly passed a pre-qualification process in a bidding to acquire assets of US oil and gas firm Hess Corporation in Indonesia, according to a source.

The four are Saka Energi, Sinochem, Pertamina and Mandiri Oil, said the source, who wishes to remain anonymous, adding that among the firms that did not make it to the next round is PT Energi Mega Persada.

Hess is divesting its assets in Indonesia, part of the company?s strategy to divest oil and gas assets in various countries as it aims to focus on its US operation.

According to the Oil and Gas Book 2013 published by Petromindo, the firm is the operator in four blocks, namely Pangkah PSC, in which it has a 75 percent stake, Semai V PSC (100 percent), South Sesulu PSC (100 percent), and Offshore Timor Sea I PSC (100 percent).

It also owns non-operator stakes in another three blocks, namely Natuna Sea Block A PSC (23 percent), Kofiau PSC (42.5 percent) and West Timor PSC (49 percent).

Editing by Dadan Wijaksana