Gulf Indonesia farms in Banyumas PSC

Oil and gas firm Gulf Indonesia Resources (GIR), a 72 percent subsidiary of Conoco Canada Resources, had recently acquired 50 percent interest in Banyumas production sharing contract (PSC) exploration block on shore Central Java, according to a GIR executive.

?We have entered into agreement with Coparex BV to farm-in 50 percent working interest in Banyumas PSC,? TM Razief Fitri, GIR?s external relations manager told Petromindo.com Monday.

Coparex BV will remain the block?s operator

Gulf Indonesia is currently the country?s biggest non-LNG gas producer with interest in Jambi, South Sumatra, Natuna Island and offshore East Java. (alex)