CNOOC to sell stake at Java block
Monday, June 6 2011 - 01:55 AM WIB
Chinese firm CNOOC Ltd is planning to sell its entire stake in ONWJ block offshore West Java.
Industry sources told Petromindo.Com that the company has opened tender and has submitted permit to the government to open the block?s data room.
According to Petromindo?s data, CNOOC has 36.72 percent non-operating stake in the block.
The block, which is producing oil and gas, is operated by Pertamina Hulu Energi (PHE), a wholly-owned subsidiary of state oil, gas company PT Pertamina (Persero) with 53.25 percent interest.
The sources said PHE has the first right to acquire CNOOC?s stake in the block. (godang)