Bhakti Investama looks for new partner to develop Semai block
Friday, April 29 2011 - 03:29 AM WIB
Publicly-listed investment firm PT Bhakti Investama Tbk is looking for a new partner to develop its Semai III exploration block offshore West Papua, the company?s official told Petromindo.Com on Tuesday.
Oil and gas division director Budiono said that currently the company is selecting the future contractor to conduct the 2D seismic survey. ?We will announce the winner early next month,? he said without giving details.
The company is also planning to start first drilling at the block by the end of 2011, he said.
In November last year, PT Bhakti Investama completed the acquisition of 85 percent interest in the block and became the operator. The remainder of the interest is owned by previous operator PT Suma Sarana.
The block was awarded to Suma Sarana in 2008. Suma Sarana paid US$6 million in signing bonus and is committed to drilling two wells in the block. (giok)