The Bontang block is located in the prolific Kutei basin, which is home to some of the largest oil and gas fields in Indonesia and has seen recent exploration focused on deep water areas, reported The Jakarta Post.
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British Independent Oil Firm To Explore in Indonesia
Salamander Energy, an independent oil exploration and production company
Salamander Energy, the British independent oil exploration and production company has concluded a deal to acquire 100 percent of Bontang Exploration Company in Indonesia, a report said Wednesday.
Bonec has an 80 percent stake in the Production Sharing Contract (PSC) for the Bontang oil and gas block in East Kalimantan Province.
The Bontang block is located in the prolific Kutei basin, which is home to some of the largest oil and gas fields in Indonesia and has seen recent exploration focused on deep water areas, reported The Jakarta Post.
The company said that the Bonec acquisition was the second major deal wrapped up in 2006 after it previously secured a 2.5 percent interest in the offshore northwest Java and southeast Sumatra PSCs earlier this year to complement its position in the Phu Horn gas field development and surrounding exploration site in Northern Thailand.
The Bontang block is located in the prolific Kutei basin, which is home to some of the largest oil and gas fields in Indonesia and has seen recent exploration focused on deep water areas, reported The Jakarta Post.
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