US major ChevronTexaco has handed over its long-held Coastal Plain Pekanbaru oil block in Riau province on Sumatra island to Indonesia’s newly set-up upstream regulator, Badan Pelaksana. The 43,000-barrel/day block had been operated by subsidiary Caltex since 1966. Badan Pelaksana is an equal joint venture between Indonesia’s state oil and gas company Pertamina and the…

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