BP Gets 100% Interest in Indonesia Block

BP, in a statement on its Web site, said it expects to begin "seismic operations on the block in the near future."

BP said the block is located on the coast of the Arafura Sea, 480 kilometers southeast of the BP-operated Tangguh plant, covering an area of just more than 5,000 square kilometers.

BP has more than 35 years experience in Indonesia and is one of the largest foreign investors in the country, the oil company said.

Joseph Woelfel
The Street