Platts Commodity News September 5, 2007

 

Indonesia's upstream regulator BPMigas plans to issue a tender to sell 35,000 mt of refrigerated LPG for lifting in October from ConocoPhillips' Belanak field in Natuna Block B, the head of the regulator's marketing division Budi Indianto said Tuesday.

The volume is part of the contractor's output, which is owned by the government, under a production sharing contract.

ConocoPhillips is the operator of Block B with 40% equity in Block B. The other equity holders are Chevron (25%), Inpex (17.5%) and Belida International (17.5%).

The LPG cargo will be the second one offered from Belanak, after production at the offshore field was affected by technical problems. LPG production from Belanak started in the second quarter of 2007. ConocoPhillips sold the first refrigerated LPG cargo from Belanak in July.