Indonesia: offshore exploration block award

Marathon Oil Corp. has announced that its wholly owned subsidiaries, Marathon Indonesia New Ventures Ltd and Indonesia Kumawa Energy Ltd, have entered into a Production Sharing Contract with the Indonesian Government for a combined 49% interest in the Kumawa Block offshore Indonesia. Marathon’s co-bidder, Komodo Energy LLC, a subsidiary of Black Gold Energy LLC, was awarded the remaining 51% interest. Marathon Indonesia New Ventures Ltd will serve as the operator. The Kumawa Block encompasses 1.24 million acres and is located offshore West Papua, Eastern Indonesia, in the Semai region, 180mi south of the recently commissioned Tangguh liquefied natural gas facility. The Kumawa Block is a high-potential, under-explored area with water depths ranging from 2400 to more than 4000ft. Another Marathon subsidiary, Marathon International Petroleum Indonesia Ltd, holds a 70% interest and operatorship in the Pasangkayu Block located predominantly in the Makassar Strait offshore Sulawesi Island and directly east of the prolific Kutei Basin oil and gas production region. The Pasangkayu Block covers 1.2 million acres ranging from onshore Sulawesi to water depths of up to 7200ft. Marathon Indonesia (Bone Bay) Ltd, a separate Marathon subsidiary, also holds a 49% interest and operatorship in the Bone Bay Block which covers 1.23 million acres located 200mi SE of the Pasangkayu Block in water depths ranging between 165 and 6500ft.
Previous articleAtlas Iron to acquire iron ore rights
Next articleTube fittings packages
Stainless Steel World is part of The KCI Media Group, a group of companies focused on building and sustaining global communities in the flow control industries. We publish news on a daily basis and connect business-to-business professionals through our online communities, publications, conferences and exhibitions.