HOUSTON, Feb. 12 -- Brunei has awarded the exploration of offshore Block J to a group led by French company TotalFinaElf SA.
The award is dependent on the successful negotiation of a production-sharing agreement.
TotalFinaElf would operate the block with 60%, BHP Billiton would hold 25%, and Amerada Hess Corp. would hold 15%.
Block J covers 5,000 sq km. It is 100 km from shore in 1,300-1,800 m of water.
TotalFinaElf now operates production of more than 20,000 b/d in Brunei. The license is in line with its strategy to expand its deep offshore operations and strengthen its presence in Southeast Asia.
