Anadarco to invest US$50 million in six oil wells in Indonesia
A United States-based oil and gas company, Anadarco, will undertake explorations in six oil wells in Northeast Madura III Block with an investment of US$50 million, an official said here Friday, Antara reported.
The explorations in the Northeast Madura III Block, which is situated north of Madura island or 88 km from Sumenep district, will be the first for the American oil firm, BP Migas chief spokesman Amir Hamzah said after a discussion with East Java governor Imam Utomo on the proposed oil exploration.
Anadarco has invested totally US$25 trillion around the world, Amir said adding that the US oil and gas firm has mostly made investment in Algeria.
It is hoped that Anadarco will start producing oil in 2009-2010 if it success in exploring the oil wells, he said adding that the American oil and gas firm will share the oil fields with publicly-listed Medco Energy International if Anadarco successfully explores the oil wells.
Amir, however, did not mention the amount of the oil deposit in the Northeast Madura III Block but said the oil reserve was enormous.
The discovering of the six new oil wells in the Northeast Madura Block was made after a production sharing contractor namely Australia`s Santos Limited found an oil field in Jeruk waters in East Java Basin.
Anadarco signed a work contract with the Executive Body of Oil and Gas Upstream Activity (BP Migas) to explore oil in Indonesia late 2004.
The explorations in the Northeast Madura III Block, which is situated north of Madura island or 88 km from Sumenep district, will be the first for the American oil firm, BP Migas chief spokesman Amir Hamzah said after a discussion with East Java governor Imam Utomo on the proposed oil exploration.
Anadarco has invested totally US$25 trillion around the world, Amir said adding that the US oil and gas firm has mostly made investment in Algeria.
It is hoped that Anadarco will start producing oil in 2009-2010 if it success in exploring the oil wells, he said adding that the American oil and gas firm will share the oil fields with publicly-listed Medco Energy International if Anadarco successfully explores the oil wells.
Amir, however, did not mention the amount of the oil deposit in the Northeast Madura III Block but said the oil reserve was enormous.
The discovering of the six new oil wells in the Northeast Madura Block was made after a production sharing contractor namely Australia`s Santos Limited found an oil field in Jeruk waters in East Java Basin.
Anadarco signed a work contract with the Executive Body of Oil and Gas Upstream Activity (BP Migas) to explore oil in Indonesia late 2004.
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posted by yosef at 1:40 PM
2 Comments:
The above person apparently has no clue what he is talking about. Look at the disasters that are Indonesian-run (Pertamina-run, I should say) oil sites. It's as bad as Venezuela. Also, it's spelled Anadarko.
I agree with anonymous. Voteswagon's comments do not have data to back them up. "hybrids are flooding" -- I think hybrids are a miniscule portion of global auto sales.
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