Bhakti Investama to acquire interest in Semai III block
Thursday, June 3 2010 - 07:13 PM WIB
IDX-listed investment firm PT Bhakti Investama Tbk is finalizing deal with PT Suma Sarana to acquire majority interest in Semai III exploration block offshore West Papua, media reported on Thursday.
CEO Hary Tanoesoedibjo claimed that the block has potential resources of 1 billion barrels of oil equivalent.
The report did not disclose percentage of interest the Company would acquire.
The block was awarded to Suma Sarana in 2008. Suma Sarana paid US$6 million signing bonus and committed to drill two wells in the block. (*)