Taiwan's CPC In Talks With ConocoPhillips On Indonesia Block
TAIPEI -(Dow Jones)- Taiwan government-owned refiner CPC Corp. is in talks
with Houston, Texas-based ConocoPhillips (COP) for a stake in an exploration
block offshore Indonesia, two senior officials at CPC's Exploration & Production
Business Division said Tuesday.
CPC may take a 24.5% stake in ConocoPhillips' Arafura Sea Block, the officials
said.
"No seismic tests were done yet, but there are large structures there, so if
we do find something, the potential is big," said one official.
Both of them declined to be named, as the talks haven't been concluded yet.
Officials at ConocoPhillips couldn't be immediately reached for comment.
-By Alex Pevzner, Dow Jones Newswires; 8862-2502-2557; alex.pevzner@
dowjones.com
(Isabel Ordonez in Houston contributed to this article)
(END) Dow Jones Newswires
11-24-090651ET
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