Anadarko to explore offshore Indonesia

Anadarko Petroleum Corporation has announced that its subsidiary, Anadarko Indonesia Company, has been awarded exploration and production rights to North East Madura III Block in Indonesia’s fourth licensing round. The approximate 1 million acre offshore block is 50 miles north of Madura Island and 150 miles NE of Java in water depths of approximately 150 to 250 feet. Anadarko will operate the block with a 100% working interest. Under terms of the standard Production Sharing Contract to be entered into with BPMIGAS by year end, Anadarko will undertake a six-year exploration phase and 20-year production phase. During the initial three-year work program Anadarko plans to acquire a minimum of 2,560 square kilometers of 3D seismic and drill six exploration wells.

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