Indonesia hands Statoil another licence

Indonesia hands Statoil another licence

Oslo: Statoil was today awarded new exploration acreage through the Aru Trough I licence offshore Indonesia.

The licence covers an area of approximately 8,300 sq km, adjacent to Statoil’s existing exploration acreage in the Aru and West Papua IV licences. Statoil will operate the licence with a 100% working interest.

“This is a low-cost access into a frontier area with considerable potential where Statoil is already present. This position strengthens the optionality in Statoil’s long-term portfolio and secures potential upsides from our existing exploration acreage,” said Erling Vågnes, Statoil’s senior vice president for exploration in the eastern hemisphere.
Statoil will initially collect seismic data during the first three years of the exploration period. The information obtained from the seismic survey will form the decision basis for Statoil’s next steps in the licence.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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