Sinochem farms-in Indonesian exploration blocks

China's Sinochem Corp., a state-owned oil trading conglomerate, said Thursday it has entered into an agreement to explore oil and gas in two blocks in Indonesia.

Sinochem has bought a 20-percent working interest in Merangin II Block and a 40-percent interest in Belida Block, both are loacted onshore South Sumatra, from PT. Sele Raya, the Chinese firm said in a statement.

The deal was completed on July 22, it said, without providing any financial details. (alex)