BP, Mitsui to farm-in Chevron?s blocks

US energy giant Chevron Corp. is in the process of farming out 49 percent of interest in West Papua I and West Papua III exploration blocks onshore West Papua.

?Chevron is waiting for government?s approval to farm-out 49 percent interest in West Papua I and III blocks and will keep 51 percent interest and operatorship in both blocks,? Yanto Sianipar, Chevron IndoAsia Business Unit VP Policy, Government and Public Affairs told Petromindo.Com on Monday.

A source at the Ministry of Energy and Mineral Resources who declined to be named said that Energy giant BP plc will farm-in 32 percent interest in both blocks and the remaining 17 percent will be taken by Japanese firm Mitsui Oil Exploration Co. Ltd. (MOECO).

Government has approved BP?s plan to farm-in the blocks and is in the process of evaluating MOECO, the source said.

Sianipar, however, declined to confirm about BP and MOECO. ?Chevron will not give any statement until we get government?s approval (over the farm-out plan),? he said.

A BP Indonesia official contacted by Petromindo.Com on Monday also declined to give confirmation.

Both blocks were awarded to Chevron through direct offer tender in late 2008. (godang)