West Sulawesi eyes 10% interest in Sebuku block

By Bernard Loebs

West Sulawesi provincial government has expressed its interest to take 10 percent participating interest in Sebuku block, which is operated by Pearl Oil, an official at upstream authority said.

Cornelia S.R.E. Oentarti, an expert staff at BPMIGAS told Petromindo.com that to acquire the stake, the provincial government will be partnering with a third party.

The third party is expected to provide financing to acquire the interest in the block.

Oentarti said BPMIGAS and the central government opens up opportunities for the local government to own interest in the Sebuku block.

Sebuku Block is located 300km south of the Offshore Mahakam Block. The block covers 2,345km2 with a water depth ranging from 50m to 200m.

Pearl Oil is the operator of the block with a 70 percent participating interest, TOTAL and INPEX each holds a remaining 15 percent participating interest.

The parties expect the field to come on stream in 2013.

Editing by Roffie Kurniawan