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Statoil Increases its Presence In Indonesia

Statoil has farmed in to three offshore exploration licenses in Indonesia, significantly expanding the presence in the country. Statoil will acquire a 40% equity interest in a North Makassar Strait Production Sharing Contract (PSC) and a similar interest in two additional offshore PSCs (West Papua IV and Halmahera-Kofiau). The three production sharing contracts (PSC) will be operated by Niko Resources Ltd.