Terra Global farms out South Sumatra exploration block
Friday, October 17 2014 - 04:05 AM WIB
By Febry Silaban
Indonesian oil and gas company PT Terra Global Vesta Baturaja is in the process of farming out its interest in the North Baturaja block onshore South Sumatra.
The company?s General Manager Budy B. Assaf told Petromindo.com Friday that the firm has opened its data room for any companies interested in the block.
?We plan to farm out our interest in the block up to 50 percent,? he said.
Terra Global was awarded the production sharing contract for the North Baturaja block in Dec. 2012, holding a 100 percent interest.
Editing by Reiner Simanjuntak