Kodeco to farm out WMO, Poleng blocks
Wednesday, August 15 2012 - 02:07 AM WIB
By Godang Sitompul
Kodeco Energy has asked for the permission of upstream authority BPMIGAS to open up data room to farm out its interests in the West Madura Offshore (WMO) Block and Poleng Block in East Java.
?Kodeco has decided to sell about 10 percent stake in the WMO Block. Meanwhile, regarding Poleng, it (the size of divestment) will depend on price negotiation,? Planning Deputy at upstream authority BPMIGAS, Widhyawan Prawiraatmadja told Petromindo.com Wednesday.
Widhyawan said that the aforementioned oil and gas blocks are already in production, thus it would certainly garner interest from would-be buyers.
Editing by Reiner Simanjuntak