Total Acquires Interest in Exploration Block Northeast of Java
Total has signed an agreement with Indonesia's PT Easco East Sepanjang to farm into the offshore East Sepanjang block, northeast of Java, with a 49% working interest. The group also has the option of acquiring an additional 41% interest at a later date, provided that specific conditions are met.
Lying in water depths ranging from 400 to 1,000 meters, the East Sepanjang block covers around 5,100 square kilometers. A seismic survey will be conducted by year-end and an exploration well drilled in 2007. Total will assume operatorship after the first 3 years "Firm Commitment" exploration period.
Present in Indonesia since 1968, Total is the country's leading gas producer and supplies more than 70% of the feed gas for the Bontang liquefaction plant, on behalf of the 50-50 Total-Inpex joint venture, operator of the Mahakam block in which the Tambora, Tunu, and Peciko gas fields are located. The group produced more than 2.6 billion cubic feet per day of gas in Mahakam in first-half 2006. Output will be maintained at this level at least through 2010. Total is also a top-tier oil and condensates producer, with operated output of 88,000 barrels per day in 2005.
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Company: Inpex more info
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Company: PT Easco East Sepanjang more info
- Total Acquires Interest in Exploration Block Northeast of Java (Aug 01)