{
    "success": true,
    "data": {
        "id": 1403730,
        "msgid": "arco-focus-on-ri-exploration-1447893297",
        "date": "1998-08-13 00:00:00",
        "title": "ARCO focus on RI exploration",
        "author": null,
        "source": "DJ",
        "tags": null,
        "topic": null,
        "summary": "ARCO focus on RI exploration HONG KONG (Dow Jones): Atlantic Richfield Co. of the U.S. (ARCO) will not renew its remaining exploration lease offshore Myanmar, set to expire in October, the company said in a statement. ARCO Executive Vice President Ken Thompson said in the statement that the decision was made in light of new investment priorities resulting from the recent acquisition of Union Texas Petroleum Holdings Inc. (UTH) and a partnership with Triton Energy Ltd.",
        "content": "<p>ARCO focus on RI exploration<\/p>\n<p>HONG KONG (Dow Jones): Atlantic Richfield Co. of the U.S.<br>\n(ARCO) will not renew its remaining exploration lease offshore<br>\nMyanmar, set to expire in October, the company said in a<br>\nstatement.<\/p>\n<p>ARCO Executive Vice President Ken Thompson said in the<br>\nstatement that the decision was made in light of new investment<br>\npriorities resulting from the recent acquisition of Union Texas<br>\nPetroleum Holdings Inc. (UTH) and a partnership with Triton<br>\nEnergy Ltd. in a major Asian gas project.<\/p>\n<p>Production sharing contracts for blocks M-7 and M-9 were<br>\nsigned in 1995 and 1996, and two wells have been drilled on M-9,<br>\nbut none on M-7. ARCO elected not to renew its option on the M-7<br>\nblock in June, the company said.<\/p>\n<p>\"Although one of the two wells drilled on M-9 was a gas<br>\ndiscovery, the scope of this play does not warrant our continued<br>\nparticipation,\" said Thompson. The anniversary date for Block M-9<br>\nis Oct. 26.<\/p>\n<p>In May, ARCO purchased Union Texas, which had more than one-<br>\nthird of its assets in Indonesia's oil and gas sector, primarily<br>\nin liquefied natural gas.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/arco-focus-on-ri-exploration-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}