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COPYRIGHT 2005 Access Intelligence, LLC.
Indonesia is pushing forward with its campaign to increase exploration interest and shore up its dwindling production. The government recently awarded a dozen exploration blocks to a variety of bidders, both foreign and domestic.
Anadarko Petroleum Corp. won a 100% interest in the Northeast Madura III Block, offshore East Java. The shallow-water block covers 1 million acres and is 50 miles north of Madura Island. The Houston firm will operate the license and hold a 100% working interest.
Other awards included the Nunukan Block, offshore East Kalimantan, which was taken by PT Medco E&P Indonesia, and the offshore Northeast Madura IV Block in East Java, which was taken by Petronas Carigali.
Additionally, Altar Sociedade de Investimentol Mobiliario of Portugal received the Barito Block in Central Kalimantan, while Genting Oil & Gas Ltd. won the offshore Northwest Natuna Block. The Seruwai Block, offshore northern Aceh, was awarded to Bermuda-based Transworld Exploration Ltd.
Finally, local companies took the Manokwari, Pandan, Air Komering, Belida and East Sepanjang and Senangka Senipah blocks.
Together, the winning bidders are expected to invest $163 million on the 12 blocks during the first three years of exploration.
1 Canada
Calgary-based Questerre Energy has farmed into a venture with Hydro-Quebec and Gastem Inc. on the Restigouche block in the Gaspe Peninsula in Quebec's maritime region. Questerre...
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