Hess Corp., New York, will take a farmout from Niko Resources Ltd., Calgary, to earn a 42.5% working interest in the Kofiau production sharing contract in the Salawati area of West Papua, Indonesia, subject to government approval.
Niko will remain operator with a 57.5% interest. Niko has shot 2,266 sq km of 3D seismic and 1,050 km of 2D seismic on the block and will drill several wells on the PSC as part of an extensive Indonesian deepwater drilling campaign set to begin in 2012.
