Niko Signs 4 New Indonesian Blocks

Niko announced the signing of four new Production Sharing Contracts with the Government of Indonesia for the following blocks:


  Sq Km Operator
Cendrawasih Bay II 5,072 Repsol
Cendrawasih Bay III 4,688 Niko
Cendrawasih Bay IV 3,904 Niko
Sunda Strait 6,959 Niko

In Cendrawasih Bay II, III, and IV, Niko holds a 50% interest in partnership with Repsol Exploración, S.A and will operate two of these blocks while in the Sunda Strait block Niko holds 100% participating interest. The blocks in Cendrawasih Bay surround Niko's existing PSC operated by Exxon Mobil and target similar play types. Niko will hold an interest in 16 exploration blocks covering almost 20 million gross acres (over 15 million net acres) in Indonesia.

Niko has completed the first phase of its seismic commitment with zero lost time incidents. A total of 15,600 line km and over 200,000 man-hours have been completed.