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From the Field

Coro, ConocoPhillips in Indonesia moves

LONDON, September 4, 2018 – Coro Energy has acquired a 42.5% stake in the Lengo gasfield offshore Indonesia for USD 11 million, the London-listed company announced on Monday.

 

“This first Indonesian acquisition provides Coro with a strong initial platform on which to progress our South East Asian growth strategy,” said CEO James Menzies in a statement.

In other news from Indonesia, ConocoPhillips has requested an extension of its PSC for the Corridor natural gas block past the expiry of its current contract in 2023, Reuters reported on Monday.

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