LONDON -- Asia Petroleum Development (Biliton) Ltd, a wholly owned subsidiary of Serica Energy Plc, is offering participating equity in the Biliton PSC offshore West Java.
Serica holds a 45% operating position in this exploration block, located 350 km (217 mi) northeast of Jakarta and 150 km (93 mi) south of Kalimantan in less than 50 m (164 ft) of water. Early evaluation work indicates a similarity with oil fields in the nearby Asri and Ardjuna basin.
Major equity is being offered, with operatorship available. Two years of the exploration period is left on the license.