CNOOC to farm-out Batanghari block

China National Offshore Oil Corporation (CNOOC) is planning to farm-out an 80 percent interest in Batanghari block in Jambi, said Oil and Gas Upstream Management Director at the Ministry of Energy and Mineral Resources, Naryanto Wagimin.

Naryanto was quoted by Kontan daily Monday as saying that CNOOC has started offering the stake to a number of interested oil and gas firms.

CNOOC holds 87 percent interest in the Batanghari block, while the remainder is held by PT Gregory Gas Perkasa. CNOOC, which awarded the PSC in 2006, found hydrocarbon potential at Kenanga-1 well in Batanghari, but hit dryholes at three other wells including Matahari-1, Kenanga-2 and Kenanga-3 (both delineation wells). (*)