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

People & Company News

IBIA Celebrates 23th Annual Dinner

Association appoints new board members and sets priorities for the future   The International Bunker Industry Association (IBIA) has appointed three new members

OSV Delivered to MC2 in Dubai

Marine Core & Charter LLC (MC2) headquartered in Dubai has taken delivery of the new build PETRA-1, the first of two, 45-meter Fast Offshore Support Vessels in

Baltic Index Pauses at Record Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, ended flat on Thursday after declining for 12 straight sessions

Offshore

Eni, Exxon, Statoil Win Irish Offshore O&G Licences

The Irish government said on Thursday it had awarded oil and gas licences to companies including oil majors Eni, Exxon and Statoil , allowing them to explore for hydrocarbons off the coast of Ireland.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Update on Seagull Mobile apps for Crew

The Seagull mobile app for crew training status is set to revolutionise the way seafarers track their training records and receive critical safety alerts, by making

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.1125 sec (9 req/sec)