AWE open to offers off Indonesia

AWE is seeking partners for two exploration blocks in the shallow water East Java basin offshore Indonesia.

Offshore staff

HOUSTON -- AWE is seeking partners for two exploration blocks in the shallow water East Java basin offshore Indonesia.

According to broker Indigo Pool, a subsidiary of Schlumberger, the two production sharing contracts (PSCs) for the North Madura and Terumbu blocks contain prospects and leads estimated at up to 235 MMboe recoverable, in a proven basin with existing production.

The total acreage is over 4,000 sq km (1,544 sq mi).

In exchange for interests in the PSCs, farminees will have to bear a significant carry of future commitment costs.

03/30/2011

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