Statoil Increases its Presence In Indonesia

Press Release
Tuesday, May 24, 2011
Pål Haremo, senior vice president for Exploration

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.

Given exploration success, Statoil has the option to become the operator in the development and production phases.

“This is an early access opportunity that adds significant additional acreage to our portfolio” says Pål Haremo, senior vice president for Exploration.

“Our focus is to support Statoil’s exploration strategy, by adding materiality to our existing portfolio in Indonesia and increasing Statoil’s acreage position in general,” he adds.

The agreement signed includes one exploration well commitment for the North Makassar Strait PSC.

The agreement is effective from 1 January 2011, and is subject to governmental approval in Indonesia.

Statoil is already an operator in the Karama offshore PSC in Indonesia and partner in the neighbouring Kuma PSC in the Makassar Straits.

Exploration drilling is planned for both these licenses in 2011.
 

Source: Statoil

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

UASC Shareholding States Vote to Back Hapag-Lloyd Merger

United Arab Shipping Company (UASC) said its six shareholding states backed a merger deal with German container shipping line Hapag-Lloyd AG at a meeting on Wednesday.

List: Top Five UK Ship Owners

Following last week's landmark referendum results, VesselsValue has compiled a list of the top five U.K.-based shipowners and their total fleet value in USD billions.

FMC's Doyle Addresses VGM Rules

U.S. Federal Maritime Commission (FMC) Commissioner William P. Doyle issued a statement on the upcoming implementation of the SOLAS Convention’s verified gross mass (VGM) requirements:   On Friday,

Offshore

India’s Potential in Offshore Wind Power

The Global Wind Energy Council (GWEC) launched a new report: “Supply Chain, Port Infrastructure and Logistics Study” for offshore wind development in the states of Gujarat and Tamil Nadu in India.

Lloyd's Register Extends Drilling Rig Integrity Support

Exploration begins by BHP Billiton using the Deepwater Invictus rig and supported by Lloyd’s Register’s rig integrity team. Lloyd’s Register (LR) announced it

Another Fugro Vessels Joins Largest SEEP-Hunting Survey

Fugro has deployed multi-purpose offshore survey vessel Fugro Gauss to join the Fugro Brasilis offshore Mexico, to help complete the world’s largest seep-hunting

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0994 sec (10 req/sec)