Three companies interested in Merangin III, Sumbagsel PSCs

By Febry Silaban

Three companies have submitted letters expressing interest to farm into the Merangin III PSC and Sumbagsel PSC, both in South Sumatera, owned by ASX-listed oil and gas firm Cooper Energy Ltd., according to an industry source.

The source, who requested anonymity, told Petromindo.com that the three companies are US-based oil firm ConocoPhillips, ASX-listed Santos Ltd, and Japanese firm Mitsui Oil Exploration Co. Ltd. (MOECO).

Cooper said in an annual report ended June 2014 that reprocessing of over 1,322 km of 2D seismic data from the Merangin III PSC was completed during the year, with the objective of maturing targets for seismic acquisition in calendar 2015.

Cooper Energy is the 100 percent interest holder and operator of the Merangin III PSC which lies in the central portion of the basin and contains a wide prospect inventory of both shallow oil and deeper gas prospects and leads.

Meanwhile, acquisition and processing of 257 km of 2D seismic in the Sumbagsel PSC was undertaken by the company in the year, the objective of which was to delineate exploration targets for drilling in 2015, the company said.

Cooper Energy is the 100 percent interest holder and operator of the Sumbagsel PSC which lies on the eastern flank of the basin and contains a wide prospect inventory of both shallow oil and deeper gas prospects and leads.

Editing by Reiner Simanjuntak