focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE
Stephen Yiu, FM at WS Blue Whale, discusses Nvidia, Visa/Mastercard, Lam Research & Allied Materials
Stephen Yiu, FM at WS Blue Whale, discusses Nvidia, Visa/Mastercard, Lam Research & Allied MaterialsView Video
Ben Turney, CEO at Kavango Resources, explains the company's progress from exploration to mining
Ben Turney, CEO at Kavango Resources, explains the company's progress from exploration to miningView Video

Latest Share Chat

BP to hand back two exploration blocks to Indonesia on risk concerns

Fri, 30th Jan 2015 08:14

JAKARTA, Jan 30 (Reuters) - UK-listed energy giant BP has decided to relinquish two exploration blocks to Indonesia,after a survey of the blocks found them to be high risk, thecompany said on Friday.

"Following the result of the 3D seismic evaluation, earlierthis quarter we have made the decision to relinquish both WestAru I and West Aru II blocks," BP Indonesia head of countryDharmawan Samsu told Reuters via email.

"The evaluation suggests that these blocks are bothtechnically very high risk and commercially very challenging."

BP was awarded rights to explore the two blocks, in easternIndonesia's Maluku province, in November 2011, the companywebsite says. The water depths in the two blocks range from 200metres up to 2,500 metres, it says. (Reporting by Fergus Jensen; Editing by Nick Macfie)

Related Shares

More News
16 May 2024 16:54

LONDON MARKET CLOSE: Europe struggles but record highs in New York

(Alliance News) - Large-cap European equities closed lower on Thursday, underperforming New York counterparts, which continued to push higher followin...

16 May 2024 16:53

London close: Stocks mixed as ex-divs drag on FTSE

(Sharecast News) - London stocks ended mixed on Thursday, following a flurry of corporate news and a focus on US unemployment figures.

16 May 2024 12:53

Costain says confident of long-term prospects amid contract wins

(Alliance News) - Costain Group PLC on Thursday said trading in the year to date is in line with expectations, underpinned by a number of contract win...

14 May 2024 21:40

Federal regulators sign off Venture Global's repairs at Louisiana plant

HOUSTON, May 14 (Reuters) - U.S. federal regulators said on Tuesday they are satisfied that Venture Global LNG is trying to correct faults at the he...

14 May 2024 18:47

Federal regulators sign off Venture Global's repairs at Louisiana plant

HOUSTON, May 14 (Reuters) - U.S. federal regulators said on Tuesday that they are satisfied Venture Global LNG is trying to correct faults at its he...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.