Marathon seeks to farm-out deepwater exploration block
Monday, May 23 2011 - 04:07 AM WIB
US oil, gas firm Marathon Oil Corp. is seeking to farm out part of interest in Bone Bay offshore exploration block in Sulawesi.
A Petromindo.Com source said Marathon is willing to give up the block?s operatorship and only retain non-operating interest.
Currently, the company holds 55 percent operating interest in the block with the balance held by Canadian firm Niko Resources.
Marathon plans to start exploration drilling in the block in 2012. (godang)