ConocoPhillips, Chevron Seek to Sell Stakes in Indonesia Oil and Gas Block: Energy Ministry Official


DECEMBER 11, 2015

Jakarta. Indonesia has received written requests from US-listed energy giants ConocoPhillips and Chevron to sell their interests in the South Natuna Sea Block B oil and gas block, an energy ministry official said on Friday.

Several companies had expressed an interest in the stakes, Upstream Oil and Gas Director Djoko Siswanto also told reporters, without providing further details.

ConocoPhillips currently holds a 40 percent operating interest in the South Natuna Sea Block B production sharing contract, while Chevron holds a 25 percent interest and Inpex holds 35 percent.

According to Chevron's website, five fields in South Natuna Sea Block B produce natural gas, and two fields produce crude oil. Net daily production during 2014 averaged 6,000 barrels of liquids and 86 million cubic feet of natural gas.