Three bidders shortlisted for Hess assets in RI
Tuesday, November 19 2013 - 02:12 AM WIB
Three companies have been shortlisted as bidders for oil and gas blocks operated by US company Hess Corp in Indonesia, according to a source.
The source told Petromindo.com Tuesday that the shortlisted bidders include China National Offshore Oil Company (CNOOC), Valco Corporation, and Indonesia-based PT Saka Energy.
The three companies are currently waiting for the decision of Hess. ?Goldman Sachs, which has been appointed as adviser in the selection process, has recommended the three companies,? the source said.
The three bidders declined to comment, while Elan Biantoro, spokesman of the upstream oil and gas authority SKK Migas said that his office has yet to receive report on the selection process.
As reported by Petromindo.com in May, more than ten firms had submitted letter of intents to acquire oil and gas assets of Hess in Indonesia. Hess is trying to quickly complete the divestment process of its assets in Indonesia, part of the company?s strategy to divest oil and gas assets in various countries as it aims to focus on the US operation.
According to the Oil and Gas Book 2013 published by Petromindo, the firm is the operator in four blocks, namely Pangkah PSC, in which it has a 75 percent stake, Semai V PSC (100 percent), South Sesulu PSC (100 percent), and Offshore Timor Sea I PSC (100 percent). It also owns non-operator stakes in another three blocks, namely Natuna Sea Block A PSC (23 percent), Kofiau PSC (42.5 percent) and West Timor PSC (49 percent).
Editing by Reiner Simanjuntak