Serica still in talks to extend N. Sumatra exploration license
Thursday, June 21 2007 - 05:54 PM WIB
London Stock Exchange-listed oil, gas firm Serica Energy plc is still in talks with Indonesian government to secure extension of Asahan PSC offshore North Sumatra, which exploration license has expired last year.
???we are in discussion with the Indonesian government, who are supportive of our efforts, to secure new terms to enable us to continue our exploration efforts in the area,? Chairman Tony Walker said in an AGM briefing Thursday.
Walker said the exploration license has expired due to the company?s inability to get suitable rigs at an acceptable cost to carry drilling programme at the block amid global drilling equipment shortage.
The block?s initial 10-year exploration period ended in December 2006.
Serica has 55 percent interest and is the operator of the block. (alex)