By Alexander Ginting
Canadian oil and gas firm Talisman Energy Inc. has reached a deal to sell its entire 7.5 percent interest in Southeast Sumatra (SES) PSC to PT Pertamina SES, a unit of Indonesian state-owned oil and gas company PT Pertamina (Persero).
The company said in its Annual Information form filed this week that the deal was entered into in December 2013 with government approval expected in 2014.
The company did not give detail about the price.
The offshore Southeast Sumatra block, which covers an area of around 5,851 square kilometers near North Jakarta?s Thousand Islands regency, is one of the country?s top oil producing assets. The block also produces gas supplied to state electricity firm PT PLN.
The block is operated by Chinese firm CNOOC Ltd which holds 65 percent interest. Pertamina already owns 13 percent interest in the block.
In addition, the company also reported that in December 2013, it entered into an agreement to acquire a 90 percent interest and operatorship of Sakakemang PSC, located onshore South Sumatra, adjacent to the Corridor PSC and Jambi Merang PSC, where it has 36 percent and 25 percent interest, respectively.
Government approval is expected to be received during the first quarter of 2014, the company said.
According to Petromindo.Com data, the exploration block is awarded in 2010 to a local company PT Cakra Nusa Darma.
Editing by Reiner Simanjuntak
