Anadarko, Chevron in Java exploration deal
Monday, May 29 2006 - 01:39 AM WIB
US oil firm Anadarko Petroleum is close to sign deal to farm out working interest in North East Madura III exploration block in East Java to Chevron Corp.
An industry source that declined to be named told Petromindo. Com Monday that Chevron will take 40 percent interest in the block while a Chinese firm will take another 9 percent. Anadarko will remain the block?s operator with 51 percent interest.
Officials from both companies were not available for comment.
Anadarko said earlier it planned to spud the first well in the block 2nd or 3rd quarter of this year.
The block was awarded to Anadarko by Indonesian government in 2004.(alex/godang)