Eni, Hess to relinquish exploration block
Friday, May 9 2014 - 03:51 AM WIB
By Godang Sitompul
Italian firm Eni SpA and US firm Hess Corp. have proposed relinquishment of West Timor PSC exploration block onshore and offshore East Nusa Tenggara.
SKKMigas Spokesperson Zudaldi Rafdi told Petromindo.Com earlier this week that the ministry of energy and mineral resources is still evaluating the request.
Eni is the block's operator with 51% interest with the balance held by Hess.
The block was awarded to Eni in 2008.
Earlier, Zuldaldi also said that Hess is proposing relinquishment of its 100% -held Timor Sea Block 1 offshore East Nusa Tenggara.
Editing by Alexander Ginting