Medco Energi buys ConocoPhillips' 40% stake in South Natuna Sea Block B
ConocoPhillips has sold its operated 40% interest in South Natuna Sea Block B (SNSBB), Indonesia, for an undisclosed sum. The deal includes operatorship of associated infrastructure. The SNSBB is a large and fragmented block that covers a number of oil and gas fields in the western Natuna Sea. Oil production peaked in the mid-1990s; several fields have now been shut-in and the focus of development has switched to gas. The PSC is currently estimated to supply 85 mmcfd of gas to Singapore and 159 mmcfd of gas to Malaysia, plus 32,000 b/d of liquids.