The FINANCIAL — Statoil has been awarded the operatorship and a substantial working interest in a large offshore exploration licence in eastern Indonesia.The Halmahera II block is located in a frontier basin with no wells drilled nearby.
Statoil will operate the licence with an 80% working interest. Niko Resources will hold the remaining 20%. The licence covers an area of more than 8000 square kilometres. The licence is subject to final governmental approval.
“We are very pleased about being awarded a large equity position in a promising frontier area in Indonesia” states Pål Haremo, senior vice president in Exploration global new ventures in Statoil. He continues, “Indonesia is an emerging focus area for Statoil and we have a material portfolio of frontier acreage in the country.”
The Halmahera II licence marks the sixth newly accessed licence in Indonesia during 2011 for Statoil and brings the total number of licences with Statoil interest in Indonesia to eight. The newly awarded licence is located adjacent to the Obi and Halmahera-Kofiau licences, accessed earlier this year.
Statoil has been in Indonesia since 2007 and was then awarded the operatorship of the Karama licence and partnership with ConocoPhillips in the neighbouring Kuma licence, both located in the Makassar Straits.
In May 2011 Statoil farmed into three exploration licences in Indonesia. These are Halmahera-Kofiau, North Makasar and West Papua IV.
In September 2011 Statoil was awarded partnership in two additional exploration licences. The two licences are North Ganal in the North Makassar Strait and Obi located in eastern Indonesia.
Discussion about this post