Niko Resources Ltd., Calgary, signed four production sharing contracts with the government for blocks in Cendrawasih Bay and the Sunda Strait.
By OGJ editors
HOUSTON, May 19 – Niko Resources Ltd., Calgary, signed four production sharing contracts with the government for blocks in Cendrawasih Bay and the Sunda Strait.
Niko is operator of the 6,959-sq km Sunda Strait block with 100% participating interest.
Niko is operator of Cendrawasih Bay blocks III and IV, covering 4,688 and 3,904 sq km, respectively, and Niko and Repsol share interests 50-50. Repsol is operator of Cendrawasih Bay II covering 5,072 sq km, and Repsol and Niko share interests 50-50.
The Cendrawasih Bay blocks surround Niko’s existing PSC operated by ExxonMobil and target similar play types.
Niko will hold an interest in 16 exploration blocks covering almost 20 million gross acres and more than 15 million net acres in Indonesia.
Niko has completed the first phase of its seismic commitment with zero lost time incidents. A total of 15,600 line-km and over 200,000 man-hr have been completed.