Statoil to expand presence offshore Indonesia

Statoil has been awarded the operatorship and a substantial working interest in the Halmahera II block offshore eastern Indonesia.

Statoil will operate the license with an 80% working interest. Niko Resources will hold the remaining 20%. The license covers an area of more than 8,000 sq km. The license is subject to final governmental approval.

“We are very pleased about being awarded a large equity position in a promising frontier area in Indonesia” Pål Haremo, senior vice president in exploration global new ventures in Statoil, said.

The Halmahera II license marks the sixth newly accessed license in Indonesia during 2011 for Statoil and brings the total number of licenses with Statoil interest in Indonesia to eight.