Thursday, July 23, 2009

Husky spent US$2 million in Indonesia

Husky Energy, Canada, has spent US$2 million for oil and gas exploration activities in Indonesia in the first half 2009. 
The amount spent is very small compared to the company's spending of US$230 million in offshore China projects in the same period.
Husky has interests in several oil and gas blocks. The Madura BD field development plan has been approved by the Government of Indonesia and Husky continues to await approval of an extension to the production sharing contract. "Engineering work has been tendered and will commence upon receipt of the PSC extension," Husky management told investors on Wednesday. 
In the East Bawean II PSC, in which Husky holds a 100% interest, the Transocean Adriatic XI jack-up rig will drill two exploration wells, the first of which was spud on July 8, 2009. 
During the second quarter of 2009, existing 2-D seismic was interpreted for Husky's 100% interest in the North Sumbawa II block, comprising 5,000 square KM in the East Java Sea. Planning is now underway to acquire 800 KM of new 2-D seismic by early next year.

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