Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Japex to Acquire Stake in West Natuna Sea

change text size

Japan Petroleum Exploration Co., Ltd. (Japex) announced that its unit Japex West Natuna Limited has signed an agreement to acquire a 30 percent participating interest in the Kerapu Block in the West Natuna Sea, off Indonesia from a wholly owned subsidiary of Mubadala Petroleum, subject to approval by the Indonesian government.

The Kerapu Block is located approximately 124 miles (200 kilometers) northwest of Natuna Island and covers an area of 1,197 square miles (3,100 square kilometers) with a water depth of around 197 feet (60 meters).

Mubadala Petroleum is the operator of the block, with a 100 percent interest. Japex's acquisition, if approved, will trim the Abu Dhabi government-owned upstream oil and gas company's participating interest to 70 percent.

"South East Asia is one of the focus areas of Japex, and it plans to seek additional E&P (exploration and production) opportunities in the region," Japex said in a company release.

Mubadala Petoleum, which was awarded the block in 2008, acquired 3D seismic in 2010 through Petroleum Geo-Services seismic vessel Orient Explorer. An exploratory well in the Kerapu Block is planned for 2013.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Lakes Oil Bags 2 Offshore Exploration ... (Oct 21)
 -  Jurong Shipyard Bags MODEC's FPSO Cont... (Oct 20)
 -  Wressle-1 Well Confirms Potential Hydr... (Oct 20)
 -  Xcite Signs Services Deal with Baker H... (Oct 20)
 -  Sidi Moussa Well Offshore Morocco Find... (Oct 20)
Most Popular Articles
From the Career Center
Jobs that may interest you
GSAP Focal Point - Martinez, Ca
Expertise: IT - Analysis & Management, IT - Sys Admin & Support, Process Management
Location: Martinez, CA
 
Engineering Manager - Applications
Expertise: Project Management, Research & Development, Technical Sales
Location: Sugar land, TX
 
Project Manager - Subsea
Expertise: Mechanical Engineering, Project Management, Subsea Engineering
Location: Houston, TX
 
search for more jobs