Elnusa disallowed to acquire ConocoPhillips? assets

PT Elnusa said Wednesday that its parent company state oil and gas firm Pertamina had not allowed it to acquire ConocoPhillips? working interest in several blocks in Indonesia.

?We actually had offered a good price, but Pertamina had not allowed us to acquire Conoco Phillips? interests in the blocks,? said Elnusa president director Rudi Radjab.

American energy giant ConocoPhillips had been offereing for sale its interest in four oil and gas blocks in Sumatra namely Kakap production sharing contract (PSC) offshore Natuna; Block A PSC onshore Aceh; and Tungkal PSC and Jambi PSC in south Sumatra.

Reports said this month that a joint venture between two local companies, PT Star Energy and PT Kapital Nusantara, had won the bidding to acquire ConocoPhillips? interest in Kakap PSC. (godang)