Bhakti eyeing S. Sumatra exploration block
Wednesday, March 24 2010 - 04:09 PM WIB
IDX-listed investment firm PT Bhakti Investama announced on Wednesday that it has signed a biding agreement with a local partner to acquire an oil, gas exploration block located in South Sumatra.
The Company said a joint study has been completed and submitted to Directorate General of Oil and Gas, Ministry of Energy and Mineral Resources and the block is expected to be awarded in mid-2010 at the latest.
The Company will become the block?s operator and will own majority interest.
The block, which name is not disclosed, is located in the southern end of South Sumatra basin and situated close to several oil, gas blocks operated by major oil companies.(alex)