Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/by_province/asia_pacific/total-acquires-interest-in-two-exploration-blocks-.shtmlTotal acquires interest in two exploration blocks in the Arafura Sea, Indonesia
Total has signed an agreement with ConocoPhillips to acquire a 24.5% interest in the Arafura Sea and the Amborip VI blocks in the Arafura Sea, offshore Indonesia.
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Total has signed an agreement with ConocoPhillips to acquire a 24.5% interest in the Arafura Sea and the Amborip VI blocks in the Arafura Sea, offshore Indonesia. With this agreement, ConocoPhillips, operator of those two blocks, will now hold a 75.5% working interest in the Arafura Sea block. In the Amborip VI block, ConocoPhillips will hold a 51% interest, OPIC Indonesia Corporation holding the remaining 24.5% interest.
Lying in water depths ranging from 30 to 100 metres, the Arafura Sea and Amborip VI blocks each cover around 9,000 square kilometers. In each block, the first exploration well is planned to be drilled by end of 2010.
With this acquisition, Total pursues its strategy to further develop its exploration and production activities in Indonesia in 'new frontier' geological plays.
