Eni to take over Hess? asset

By Febry Silaban

Italian oil and gas firm Eni SpA plans to take over US oil and gas firm Hess Corp.?s 100 percent interest in the Timor Sea 1 exploration block in Timor Sea, an official with upstream authority SKK Migas said.

SKK Migas Spokesperson Zudaldi Rafdi told Petromindo.com on Thursday that if the plan is realized, Eni will hold 100 percent interest in the block, thus cancelling an earlier relinquishment plan by Hess.

Earlier this week, Zudaldi said that Hess would relinquish the exploration block, which was awarded in late 2011.

Editing by Reiner Simanjuntak