Interra appoints consultant to assess Benakat Barat block reserves

By Nellawati

SGX-listed Interra Resources Ltd announced Monday it has commissioned consultancy firm Gaffney Cline & Associates to provide an independent assessment of the reserves and resources of the Benakat Barat Block and to prepare an independent reserve report update.

Earlier this month, Interra said its subsidiary Goldwater Indonesia Inc has signed a sales and purchase agreement with a number of companies and individuals for a proposed acquisition of a controlling ownership in PT Benakat Barat Petroleum (BBP), which owns the Benakat Barat oil field in South Sumatra.

The company said it will pay US$78.5 million for the acquisition, a move that would expand its current oil and gas assets in Indonesia.

Editing by Reiner Simanjuntak