Santos to return interest in CBM PSCs to OIG

By Febry Silaban

ASX-listed firm Santos Ltd. plans to return 10 percent of its participating interest each in the Ogan Komering I and II CBM PSCs, in South Sumatra, to the operator of the blocks, PT Ogan Interior Gas (OIG), a subsidiary of PT Sugico.

This was said by Acting External Relations Manager of Santos Hartono to Petromindo.com on Friday.

OIG has 90 percent interest in the two PSCs.

Meanwhile, a source, who requested for anonymity, told Petromindo.com that Santos wants to reduce its interest in the two blocks as the prospectivity of the blocks falls short of the company?s standard.

Editing by Reiner Simanjuntak