Inpex eyeing stake at E. Java exploration block

Japan oil firm Inpex Corp. is seeking to farm in Sepanjang exploration block, East Java, a government source said on Tuesday.

The source said that Inpex might buy 24.5 percent working interest in the block from French giant Total SA, which acquired 49 percent interest in Sepanjang block last April.

The block was awarded to operator PT. Easco East Sepanjang in 2004. Easco currently holds 51 percent interest in the block.

Separately, Total E&P Indonesie official Ananda Idris corrected his earlier statement that the partnership will commence first exploration drilling on the block July. ?We?re just in the stage of conducting seismic activities,? he said. (godang)