ConocoPhillips says Indonesian assets not for sale
Tuesday, January 26 2010 - 01:39 AM WIB
?ConocoPhilips remains committed to continue its strong business presence in Indonesia. Our assets in Indonesia are not part of the current divestment plan that was announced by our head office late last year,? ConocoPhillips Indonesia Corporate Communication Manager Jacob Kastanja said.
ConocoPhillips announced last year that it intended to shed some of its global assets to raise US$10 billion until 2011.
Official from state oil and gas company PT Persero has reportedly expressed interest to acquire ConocoPhillips? upstream assets in Indonesia and South East Asia and claimed to have set aside $1 billion to finance the acquisition.
ConocoPhillips main assets in Indonesia are Corridor Block PSC onshore South Sumatra which supplies gas to West Java, Chevron?s steamflood facility in Central Sumatra and Singapore; and Natuna Sea Block B PSC which also sells gas to Singapore and Malaysia. The Company also has several exploration blocks in Indonesia. (alex)