Harry Tanoe's firm to farm out offshore block in Papua
Thursday, April 16 2015 - 02:55 AM WIB
By Febry Silaban
PT Suma Sarana, which is owned by media tycoon Harry Tanoesoedibjo, is planning to farm out some of its interest in the Semai III block offshore West Papua, according to a top official of the firm.
"We plan to farm out some of our interest in Semai III block, but we?ll still hold the majority," the company's President Director Budiono told Petromindo.com on a sideline of Farm-Out Forum at SEAPEX Conference in Singapore, Wednesday.
He claimed that his company is the only Indonesian firm which dares to operate offshore.
The Semai III PSC was awarded in Nov. 2008 and is operated 100 percent by PT Suma Sarana. The firm still has a two well commitment in the PSC.
Editing by Johannes Simbolon