Indonesia awards Nila Block PSC in West Natuna Sea to Conoco, Inpex

By the OGJ Online Staff

HOUSTON, Dec. 13 -- Indonesia has awarded a production-sharing contract for Nila Block in the West Natuna Sea to Conoco Nila Ltd. and Inpex Natuna Ltd.

The award was part of an exploration and production tender made earlier this year.

Conoco will operate the 5,300 sq km block, adjacent to its South Natuna Sea Block B PSC, with a 65% stake. It said Southeast Asia is one of its core areas.

The companies will conduct seismic studies and drilling activity under a 3-year work program.

Conoco recently acquired a 72% stake in Gulf Indonesia Resources Ltd., through its $4.3 billion acquisition of Gulf Canada Resources Ltd., expanding its existing interests in Southeast Asia still further (OGJ Online, May 29, 2001).

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