ChevronTexaco, Anadarko compete for coveted E. Java exploration block
Tuesday, November 2 2004 - 03:38 AM WIB
Two US E&P companies, Chevron Texaco and Anadarko Petroleum are on the top of the list to win East Java?s North East Madura III exploration block, the most coveted block that is offered in the current exploration offering round, a government source said Tuesday.
The source said hours before November 3 announcement schedule, the government is still undecided on the block?s winner. ?Chevron Texaco offers big signing bonus, but Anadarko offers best exploration program,? the source said.
The source said the decision would be made in a few hours.
The government was offering 10 exploration blocks through regular bidding and another 11 block through special offer. The government earlier said that only three out of the 10 regular blocks offered attracted bidders, with some 18 companies eyeing North East Madura III.
The source said Unocal Corp. Would be given Ambalat Block, which is located offshore East Kalimantan. (godang)