Murphy reports increased exploration expenses
Thursday, July 28 2011 - 02:48 AM WIB
US oil, gas firm Murphy Oil Corp. reported on Wednesday that its second quarter 2011 exploration expenses were US$122.5 million, up sharply compared to $53.2 million in the same period of 2010.
The company said that the increase mainly attributable to a dry hole expensed in the 2011 quarter in Indonesia at the Lengkuas prospect of the Semai II PSC.
Murphy is the operator of Semai II block offshore West Papua where the company shares equal interest of 28.3 percent with Japan?s Inpex and Thailand?s PTTEP. The remaining 15 percent balance is held by Pertamina. The partnership has 3-well commitment in the block.(alex)