Statoil has signed a production sharing contract on a share of the deepwater Kuma block off Indonesia.
Offshore staff
STAVANGER, Norway --Statoil has signed a production sharing contract on a share of the deepwater Kuma block off Indonesia. This is Statoil's first exloration acreage in Indonesia. Statoil's share is 40% and operator ConocoPhillips holds 60%.
Kuma is off the west coast of Sulawesi in 1,000-2,000 m (3,281-6,562 ft) of water and covers more than 5,000 km² (1,931 mi²). The bid included 1,000 km² (386 mi²) of 2D seismic and one well plus a $5 million bonus.
