Companies eyeing BP?s stake at ONWJ
Monday, May 11 2009 - 01:25 AM WIB
Medco E&P Indonesia President Director Budi Basuki told Petromindo.Com last week that Medco is interested as the assets ?fits into its business strategy.?
Head of Country Manager BP Indonesia Nico Kanter was quoted by Indopos on Friday as saying that a number of national companies including state oil, gas company Pertamina had submitted bids to acquire BP?s 46 percent interest in ONWJ.
Sources said that other bidders included two Chinese giants PetroChina and CNOOC. Canadian firm Talisman Energy is also interested to acquire the stake.
?ONWJ is a good asset with substantial oil, gas production. It is also strategically located in West Java. No wonder a lot of E&P firms are interested to chip in,? another source said.
ONWJ is one of Indonesia's largest offshore oil and gas operators - supplying energy for the domestic market on the island of Java and beyond. The ONWJ concession stretches from Cirebon in the east to the Seribu Islands in the west. The ONWJ facilities include 670 production wells, 170 platforms, over 40 processing and service facilities, along with approximately 1,600 km of sub-sea pipelines.
According to data from Ministry of Energy and Mineral Resources, the block produced 270 MMCFD of gas in 2008 and more than 20,000 BOPD of oil. The block supplies gas to state gas distribution firm PGN, state electricity firm PLN and state fertilizer firm Pupuk Kujang. (godang/alex)