Husky acquires ExxonMobil?s stake in E. Java block

Canadian oil company Husky Energy is seeking to acquire ExxonMobil?s entire working interest in Madura Strait PSC offshore East java, a government official said Friday.

BP Migas vice-chairman Kardaya Warnika said Husky is in the process of acquiring ExxonMobil?s 69 percent working interest in the block. Husky is currently 39 percent interest holder of the block.

Madura Strait block has recoverable reserves of 600 billion cubic feet (BCF) of gas. The block?s contract would expire in 2012. The block?s operator is currently negotiating with state electricity firm PLN to commercialize the reserves. (godang)