Gulf Oil and Gas accountACCOUNT

Niko Announces Double Farmout with Repsol Exploration SA

Source: www.gulfoilandgas.com 1/14/2011, Location: Asia

Niko Resources Ltd. announces that it has reached a Farmout agreement with Repsol Exploration SA (“Repsol”) in which Repsol, through its subsidiaries, will become a joint venture participant in both the East Bula and Seram Production Sharing Contracts (PSC) in Indonesia.

As a result of the agreement, Niko as operator will hold 55% working interest and Repsol will hold 45% working interest on each PSC. The transfer of interest has been approved by the Government in Indonesia.

The Seram PSC was signed by Niko in November 2008 while the adjacent East Bula PSC was signed by Niko in November 2009. Niko as the operator of both blocks has completed a 4,760 km 2D seismic survey and a 200 square km 3D seismic survey.

Repsol and Niko are also joint venture partners in three recently awarded blocks; Cendrawasih Bay II, III, and IV. These three blocks were signed under a Production Sharing Contract on May 18th, 2010. Niko as the operator of Cendrawasih Bay III and IV has already completed a 5,240 km 2D seismic survey.

Mergers and Acquisitions News in Indonesia >>

Mexico >>  8/19/2019 - The Bureau of Ocean Energy Management has approved Equinor and Shell’s transaction announced in May 2019, whereby Equinor exercised its preferential r...
Nigeria >>  8/19/2019 - Savannah Petroleum PLC, the British independent oil & gas company focused around activities in Niger and Nigeria, is pleased to provide an update in r...

United States >>  8/19/2019 - Motiva Enterprises LLC and an affiliate of Flint Hills Resources announced that they have signed an agreement for Motiva to acquire a 100% ownership i...
Australia >>  8/18/2019 - Oilex has entered into an agreement with Holloman Energy Corp ('HEC') to acquire its 48.5003% interest in the PEL 112 and 444 license in the world cla...

United States >>  8/14/2019 - TGS-NOPEC Geophysical Company ASA (TGS) has completed its acquisition of Spectrum ASA (Spectrum), creating a leading global multi-client geophysical d...
China >>  8/12/2019 - China based offshore and subsea solutions company, COOEC Offshore, has formed an alliance with international oilfield services company, Expro. The for...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Indonesia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |

More News

Related Links

AZ BD BN CN GE HK ID IN IR JP KR KZ MM MN MY PG PH PK RU SG TH TJ TM TW UA UZ VN
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.