PTTEP quits Indonesia blocks
Tuesday, May 16 2017 - 09:25 AM WIB
By Alexander Ginting
Thai firm PTTEP said it has received official approval from the government of Indonesia for the relinquishment of South Mandar PSC offshore Makassar Straits.
The company?s Annual Report published on Tuesday revealed that the approval was received in December last year.
The Company owns 50.75% interest in the Project and is the operator. The exploration activities were carried out and discovered limited petroleum potential, the company said.
Beside South Mandar, the company is also requesting to relinquish Semai II block in West Papua and Malunda block, Makassar Straits and is waiting for government approval.