Petronas completes E. Java block acquisition from ConocoPhillips

Malaysian oil and gas firm Petronas Carigali has completed acquisition of 50 percent interest in Ketapang oil, gas block offshore East Java from US firm ConocoPhillips, a BPMIGAS official said.

A BPMIGAS official, who preferred anonymity told Petromindo.Com that the deal was sealed in August 2008.

Petronas will take over operatorship of the block as it now controlled 100 percent interest, the official said.

BPMIGAS Deputy Chairman in charge of Planning Achmad Luthfi said he had yet received report about the deal.

According to reports, Ketapang block will produce 20,000 barrels per day of oil some 50 MMCFD of flare gas. Production is planned to start in 2010-2011. (godang)