Santos to farm out 30% interest in Northwest Natuna PSC: Source

By Febry Silaban

Australian firm Santos Limited is offering interested parties the opportunity to participate in Northwest Natuna PSC, according to a source.

?We are in the process of farming out up to 30 percent of our interest in Northwest Natuna PSC,? the source, who requested for anonymity, told Petromindo.com.

The source said that the operatorship of the block will be retained by Santos.

The block includes Ande Ande Lumut (AAL) field, which holds a 101 million barrels of oil reseve (gross 2P Reserves). The Front End Engineering Design (FEED) for the project has been completed and Final Investment Decision (FID) is scheduled to be taken in the second half of the year. Santos? partner in the block is ASX-listed AWE ltd.

Editing by Reiner Simanjuntak