ConocoPhillips puts Indonesian assets up for sale

Only months after promising to increase investment in the country, ConocoPhillips is seeking a buyer for its assets

US major ConocoPhillips is seeking buyers for its legacy Block B fields in the Natuna Sea, along with its transportation infrastructure and onshore receiving plant. The potential pullback comes only four months after ConocoPhillips’ chief executive Ryan Lance visited president Joko Widodo and pledged to increase investment in Indonesia. At the time, energy and mineral resources minister Sudirman Said revealed the US company planned to invest $2.5bn over the next three to four years, a similar amount as in the previous four years. ConocoPhillips dismissed suggestions that the move was in response to low oil prices. Some analysts believe the uncertain fiscal and regulatory environment in south