ConocoPhillips, Chevron to sell interests in Indonesian block

JAKARTA, December 11, 2015 – US energy companies ConocoPhillips and Chevron have requested to sell their stakes in an offshore block in Indonesia, according to an Indonesian energy official’s statement on Friday.

ConocoPhillips currently has a 40-percent stake in Block B, while Chevron owns 25-percent of the block. Japanese oil company Inpex has the remaining interest in the block.

Located in the South Natuna Sea, Block B has eight gasfields that are in production and three producing oilfields. The oil and gas block had a net daily production in 2014 of 6,000 barrels of liquids and 2.44 mcm (86 mcf) of gas.

The names of several companies who are interested in purchasing the newly available stakes have not yet been disclosed, according to Reuters.

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