Total Takes Stakes Offshore Indonesia

Total signed an agreement with ConocoPhillips to acquire a 24.5% interest in the Arafura Sea Block and the Amborip VI Block, offshore Indonesia. Serving as operator of both blocks, ConocoPhillips will now hold a 75.5% working interest in the Arafura Sea Block, and a 51% interest in the Amborip VI Block, with OPIC Indonesia Corporation holding the remaining 24.5% interest. Located in waters ranging from 98 to 328 feet (30 to 100 meters), the Arafura Sea and Amborip VI Blocks each cover about 2.2 million acres (9,000 square kilometers). An exploration well will be drilled in each block by the end of 2010.

continue reading the full article


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Business Development Manager
Expertise: Business Development|Sales
Location: Centennial, CO
Project Manager, USA
Expertise: Project Management
Location: United States
Financial Analyst - Finance and Investor Relations
Expertise: Accounting|Financial Analyst|Legal
Location: Dallas, TX
search for more jobs

Brent Crude Oil : $50.75/BBL 0.09%
Light Crude Oil : $47.73/BBL 0.50%
Natural Gas : $3.05/MMBtu 0.97%
Updated in last 24 hours