Total enters deepwater permits off Indonesia

Total has agreed to farm in to three deep-offshore exploration blocks in the Makassar Strait off Indonesia.

Offshore staff

PARIS – Total has agreed to farm in to three deep-offshore exploration blocks in the Makassar Strait off Indonesia.

The company has acquired from Talisman Energy:
   • 50% interest of the Sageri Production Sharing Contract (PSC), Talisman now holding the remaining 50%
   • 35% in the South Sageri PSC, with Talisman retaining 35% and PTTEP 30%,
   • 20% in the Sadang PSC, alongside Talisman (40%) and PTTEP (40%).

The three blocks operated by Talisman are in the offshore South Makassar basin, in water depths ranging from 400-2,000 m (1,312-6,561 ft), and cover a total area of 10,693 sq km (4,128 sq mi).

Work commitments during the exploration period include acquiring 2D and 3D seismic and drilling two exploration wells, the first of which should spud on the Sageri block by the end of this year.

Jean-Marie Guillermou, Total’s senior VP Asia Pacific, Exploration and Production, said: “In the Makassar Strait, we will contribute with our deep-offshore experience and, if a discovery is made, benefit from potential synergy with our existing operations in the area."

09/15/2011

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