Philippines firm eyeing Indonesian oil, gas and coal stake

Philippines energy firm Basic Energy Corporation is eyeing to acquire stake in Indonesian oil, gas and coal property, the company said last week.

The company said it is evaluating two oil and gas areas in Indonesia and would be inviting other companies to form a Joint Venture. The areas being reviewed include a secondary recovery candidate and the other area is still under exploration phase, it said without explaining further.

The company added it is also evaluating coal properties within the Philippines and Indonesia. (denny)