ConocoPhillips in talks to acquire S. Sumatra block
Tuesday, December 13 2005 - 01:45 AM WIB
US oil major ConocoPhillips in talks with Malaysian oil firm Tately NV to farm in Palmerah onshore block in South Sumatra, a Petromindo.Com source said.
ConocoPhillips is in the process of opening Palmerah data room, said the source.
Tately got the Palmerah block in 2003, beating ConocoPhillips in the process. Tately is a company controlled by Malaysian Tycoon Ananda Krishnan.
Tately plans to drill commence 3-wells exploration drilling on the block next year.
None of ConocoPhillips Indonesia officials are available for comment. (godang)