Talisman okayed to acquire Sumatra exploration block
Wednesday, May 7 2014 - 12:23 PM WIB
By Romel S. Gurky
Canadian top oil, gas firm Talisman Energy reported on Wednesday that it has received approval from the government of Indonesia to obtain a 90% working interest in the Sakakemang PSC, located between the company?s high-margin Corridor and Jambi Merang PSCs onshore South Sumatra.
The company did not disclose detail about the transaction but said that a seismic program on the block is expected to commence in the third quarter of this year.
According to Petromindo.Com data, the exploration block is awarded in 2010 to a local company PT Cakra Nusa Darma.
Editing by Alexander Ginting