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.SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.
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