Migas grants NW Natuna group exploration license

Migas, Indonesia's petroleum regulatory agency, has awarded a license to NW Natuna Joint Study group to carry out a G&G program over acreage in the northwest Natuna basin off Indonesia.

Oct. 18, 2007

Uchenna Izundu
International Editor

LONDON, Oct. 18 -- Migas, Indonesia's petroleum regulatory agency, has awarded a license to NW Natuna Joint Study group to carry out a geological and geophysical program over acreage in the northwest Natuna basin off Indonesia. The area spans 14,400 sq km and is described as highly prospective.

Enovation Resources Ltd, Carnarvon Petroleum Ltd., Natuna Ventures Pte. Ltd., and PT Gema Terra form Natuna Joint Study group.

The joint study area lies in the underexplored northwest Natuna basin northeast of the oil and gas provinces of the West Natuna and Malay basins and southwest of recent oil discoveries within the southern part of the Nam Con Son basin in Viet Nam.

Once work is completed, "the group will have a right of first refusal to conclude a direct award for a block within the joint study area under Indonesia's production-sharing contract (PSC) terms," Enovation said.

This is Enovation Resources' first exploration license in Indonesia, but it said it would continue to assess other opportunities.

Contact Uchenna Izundu at [email protected].