CPI may not participate in newly offered blocks

Oil producer PT Caltex Pacific Indonesia (CPI) may decide not to participate in the tender for 11 oil and gas exploration blocks opened early this year, CPI?s senior vice president W. Yudiana told Petromindo.Com Friday.

?We are continuing to value the blocks. However, we have found that none of them are attractive to us,? Yudiana said.

In February, the government offered 11 oil and gas exploration blocks, two of which, Merangin I & II, are located onshore Jambi and South Sumatra.

CPI is currently Indonesia?s largest oil production, operating oil fields in central Sumatra. It also has one exploration block, Kisaran PSC, in North Sumatra that it acquired in 2001.

Meanwhile, the government has planned to tender six new oil and gas exploration blocks later this year. (godang)