Anadarko plans E. Java drilling campaign by year end
Saturday, April 30 2005 - 03:37 AM WIB
US oil company Anadarko Petroleum continues evaluating its North East Madura III exploration block offshore East Java with the possibility to carry out first drilling on the block late this year, the company said Friday.
The block, which was awarded to Anadarko by Indonesian government in 2004 after beating close rival ChevronTexaco, involves a 3-year, 6-well exploration programme. Anadarko currently has 100 percent working interest in the block.
The company said it was evaluating possibility to farm out the block with the intent of retaining majority interest and operating rights.
Earlier reports said that the company is in talks with several parties including ChevronTexaco and Medco Energi over the farm-out possibility. (alex)