Update: Eni to take over Hess? interest in West Timor
Relinquishment plan canceled
Friday, May 9 2014 - 06:55 AM WIB
By Godang Sitompul
Italian oil, gas firm Eni SpA has agreed to take over Hess Corp.?s 49% interest in West Timor PSC onshore/offshore East Nusa Tenggara, and therefore cancelled relinquishment plan, an official with upstream oil, gas authority SKKMigas said.
Spokesperson Zudaldi Rafdi told Petromindo.Com on Friday that with the deal, Eni will now hold 100% interest in the block.
Earlier this week Zudaldi said that Eni and Hess would relinquish the exploration block, which was awarded to Eni in 2008.
Editing by Alexander Ginting