AziPac buys into offshore Indonesia block

June 9, 2014

Mitra Energy Ltd. entered into a farm-out agreement with AziPac for the partial assignment of Mitra's participating interest in the Bone PSC offshore Indonesia, the company announced on 9 June 2014.

Under the terms of the agreement, Mitra will assign a 40% participating interest in Bone PSC to AziPac. In consideration for the assignment, AziPac will pay a working interest share of prior costs and partially carry the costs of acquisition and processing of various geophysical surveys, scheduled to be acquired during 2014 which will allow the maturation of a low-risk prospect in shallow water for drilling in 2015.

The Bone PSC is situated in Bone Bay, offshore South Sulawesi, and lies in water depths extending from the coast to over 2000m. An independent best estimate for the gross unrisked prospective resource potential is 2074MMboe with an upside resource of 4266MMboe.



Current News

Enauta Gets Nod for New Atlanta Field Plan. Concession Extension Granted, Too

Enauta Gets Nod for New Atlanta Field Plan. Concession Extension Granted, Too

UK Picks Offshore Wind Champion. Opens $200M Floating Wind Fund for Expressions of Interest

UK Picks Offshore Wind Champion. Opens $200M Floating Wind Fund for Expressions of Interest

Trillion Books Uranus Jack-up Rig for Drilling in Turkish Black Sea

Trillion Books Uranus Jack-up Rig for Drilling in Turkish Black Sea

Norway's April Oil Output Lags Forecasts by 10.6%

Norway's April Oil Output Lags Forecasts by 10.6%

Subscribe for OE Digital E‑News

Offshore Engineer Magazine