BP to relinquish two deepwater blocks in Arafura Sea
Thursday, January 29 2015 - 02:01 AM WIB
By Febry Silaban & Bernard Loebs
British energy giant BP Plc will relinquish the West Aru I and West Aru II PSCs, two deepwater blocks in Arafura Sea, West Papua in this first quarter of 2015, according to a top official of the company.
?Following the result of the 3D seismic evaluation, we have made the decision to relinquish both West Aru I & West Aru II blocks,? BP Indonesia Head of Country Dharmawan Samsu told Petromindo.com.
According to Dharmawan, the evaluation suggests that these blocks are both technically highly risky and commercially very challenging.
The 3D seismic survey on 5600 square kilometers was carried out by WesternGeco, a unit business segment of New York-listed Schlumberger.
Editing by Johannes Simbolon