Caltex says no plan to sell Minas oilfield

Indonesia’s top oil producer PT Caltex Pacific Indonesia (CPI) said on Monday that it has no plan at all to sell interest in Rokan Block PSC in Central Sumatra, where its Minas oilfield is located.

“That’s baseless rumors, we have no plan to sell the block at all,” said company president Wahyudin Yudiana. CPI is a wholly owned subsidiary unit of U.S. oil giant ChevronTexaco. CPI operates three oil blocks in Central Sumatra with combined production of 500,000 barrels per day, or half of Indonesian crude production.

Rumors have been circulating among oil and gas industry circle that ChevronTexaco is planning to dispose or at least to sell some of its interest in Minas oilfield.

Minas field, which commenced production in 1973, is a declining oil field with current production of around 300,000 barrels per day. (godang)