Statoil has bagged a large chunk in an Indonesian block situated in what the company terms a “frontier basin”.
The Norwegian major is also to be operator of the Halmahera II block in the east of the country, it revealed in a statement recently.
Statoil will hold an 80% stake in the block which covers an area of around 8000 square kilometres, with Niko Resources grabbing the remainder.
It is the sixth newly accessed licence for Statoil in Indonesia so far this year and brings the total number of licences for the company in the country to eight.
No wells have so far been drilled near the block which is adjacent to both the Obi and Halmahera-Kofiau licences which Statoil acquired earlier this year.