Indonesia: Statoil takes multiblock farmout from Niko

Statoil ASA subsidiaries will earn a 40% working interest in three eastern Indonesia blocks from Niko Resources Ltd., Calgary.

By OGJ editors
HOUSTON, May 24
– Statoil ASA subsidiaries will earn a 40% working interest in three eastern Indonesia blocks from Niko Resources Ltd., Calgary.

The Statoil affiliates will become joint venture participants in the North Makassar Strait, West Papua IV, and Halmahera-Kofiau production sharing contracts, pending government approval.

Niko, operator of the PSCs, has shot a combined 5,100 sq km of 3D seismic and 2,900 km of 2D seismic on the blocks and plans to drill on all three as part of an extensive Indonesian deepwater campaign starting in early 2012.

Niko and Statoil are working together to develop new venture opportunities in Indonesia with the objective of acquiring more jointly held PSCs. The two companies are investigating worldwide opportunities where the application of Niko’s expertise in multibeam technology can provide a competitive commercial advantage.

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