Monday, February 01, 2010

Total chases Papua oil & gas block

Total SA is in serious talks related to the acquisition of ConocoPhillips' participating interest in Warim oil and gas block, Papua. This is part of the company's expansion plans in Indonesia. State-owned oil and gas company Pertamina is also looking into Warim acquisition.
Warim PSC was signed in May 1987. This is an onshore exploration block in an area of Papua that covers 5795 square miles. ConocoPhillips owns 80% participating interest in the block, while Santos Pty Ltd holds the remaining balance. ConocoPhillips is the operator of the block. 
ConocoPhillips also owns 100% Amborip VI PSC, 60% in Kuma PSC, and 100% in Arafura Sea PSC. These blocks were awarded in the period of 2006-2008. Conoco's producing assets are Block B PSC, South Natuna Sea (40%), Corridor Block PSC (54%), and South Jambi "B" PSC (45%).

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