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Chinese state-owned oil producer Cnooc Ltd. (CEO) said Thursday it has sold its interest in an oil and gas prospect offshore Java to a firm owned by Bakrie & Brothers (BNBR.JK), an Indonesian family-run conglomerate, for $212 million.

Bakrie-owned PT Energi Mega Persada (ENRG.JK) will take control of a 36.7% stake in the Offshore North West Java block with an entitlement of net proved reserves of 22.26 million barrels of oil equivalent, Cnooc said in a statement.

According to the terms of the deal, PT Energi has bought Cnooc's ONWJ unit, which in turn holds the working interest in the license. The Offshore North West Java block is majority owned and operated by Indonesian state-controlled oil and gas firm PT Pertamina.

Average production from the block in the first nine months of 2011 was around 62,000 boe/day, with Cnooc's net share about 14,000 boe/day.

Pertamina bought control of the concession from U.K. oil major BP PLC (BP) for $280 million in 2009. Since then, Salamander Energy PLC (SMDR.LN) has sold its 5% stake in the block to Singapore's Risco Energy Pte Ltd for $56.3 million.

-By Alexis Flynn, Dow Jones Newswires; +44 207842 9471, alexis.flynn@dowjones.com

(Chester Yung in Hong Kong contributed to this report.)