Jakarta: BP has announced that it has decided to relinquish two exploration blocks offshore Indonesia after a survey found the two blocks to be high risk investments.
"Following the result of the 3D seismic evaluation, earlier this quarter we have made the decision to relinquish both West Aru I and West Aru II blocks," said Dharmawan Samsu, the head of BP in Indonesia.
"The evaluation suggests that these blocks are both technically very high risk and commercially very challenging," he added.
BP was awarded full stakes in West Aru I and West Aru II in November 2011. [02/02/15]
