Related Articles
Forward article link
Share PDF with colleagues

ConocoPhillips puts Indonesian assets up for sale

Only months after promising to increase investment in the country, ConocoPhillips is seeking a buyer for its assets

US major ConocoPhillips is seeking buyers for its legacy Block B fields in the Natuna Sea, along with its transportation infrastructure and onshore receiving plant. The potential pullback comes only four months after ConocoPhillips’ chief executive Ryan Lance visited president Joko Widodo and pledged to increase investment in Indonesia. At the time, energy and mineral resources minister Sudirman Said revealed the US company planned to invest $2.5bn over the next three to four years, a similar amount as in the previous four years. ConocoPhillips dismissed suggestions that the move was in response to low oil prices. Some analysts believe the uncertain fiscal and regulatory environment in sou

Also in this section
Rosneft: scaling the heights of power
19 April 2017
High-wire deal-making has become the hallmark of Russia's national oil champion. But are expansion plans risking too much?
Tatneft edges towards the precipice
5 April 2017
The company's finances are under severe strain, as its resources are drained off to prop up an ailing local economy
China's oil loans run into trouble
5 April 2017
China extended much credit to secure oil supplies. Now it needs borrowers to start repaying