ConocoPhillips, Hess give up Indonesian exploration blocks
Tuesday, November 29 2005 - 05:43 PM WIB
US E&P firms ConocoPhillips and Amerada Hess are in the process of returning their respective offshore exploration blocks to the government after exploration efforts failed to yield economic hydrocarbon discovery, a BPMIGAS official said on Tuesday.
?Amerada Hess will give up Tanjung Aru exploration block in Makassar Strait, while ConocoPhillips will give up Nila exploration block,? said BPMIGAS exploration division head Ahmad Lutfi.
Lutfi said that both operators were not interested to extend exploration period.
Amerada Hess operates Tanjung Aru block in 50-50 partnership with Malaysian state oil company Petronas. Reports said in 2002 the partnership had made two gas discoveries in the area. The block was awarded in 2001.
ConocoPhillips has 65 percent working interest in Nila, with the balance held by Japan?s INPEX. The block was also awarded in 2001. (godang)