PGN eyeing stake at ONWJ block

IDX-listed state gas distribution firm PT PGN (Persero) says it is interested to acquire stake at Offshore Northwest Java (ONWJ) oil, gas block, offshore West Java.

Investment and Risk Management Director Wahid Sutopo told Petromindo.Com on Monday that the company is currently ?evaluating the opportunity?.

CNOOC is currently holding an open bid for parties interested to purchase its 36.72% interest in ONWJ block.

The majority stake of the ONWJ block is held by Pertamina Hulu Energy with 53.25%. The other interest holders are Talisman Resources (NW Java) Ltd with 5.03% and Salamander (Java) Ltd with 5%.

A Petromindo.Com source said earlier that Ancora Energy, Pacific Oil and Gas Indonesia , Medco Energi and Energi Mega Persada are ready to take part in the CNOOC?s tender to sell interest in ONWJ.

Meanwhile, an executive of Pertamina said that Pertamina is mulling over a plan to raise its interest in the ONWJ block. ?We may bid for CNOOC?s shares,? the executive said. (godang)