ChevronTexaco eyeing E. Java exploration block

Government said Tuesday US oil giant ChevronTexaco had expressed interest to acquire an exploration block in East Java.

“ChevronTexaco had expressed interest to acquire new exploration block in East Java,” said director general of oil and gas Iin Arifin Takhyan. He, however, refused to give specific detail.

Government, in a bid to boost Indonesia’s E&P investment is planning to offer 20 new exploration blocks through regular bidding this year. Aside from regular bidding, interested investors can also directly bid for the block they wanted to acquire through special bidding process.

ChevronTexaco, through its unit Catex Pacific Indonesia is currently the largest crude producer, producing some 500,000 BPD from its central Sumatra oilfields. (godang)