Asian-based AziPac has farmed into a deepwater exploration block off Indonesia, subject to government approval, in partnership with Mitra Energy.
AziPac, which has backing from specialist energy investor Seacrest Capital Group, and which is focusing on opportunities in both the Asia Pacific region and the Bay of Bengal, is due to take 40% in the Bone Production Sharing Contract area, which lies in Bone Bay off the coast of southern Sulawesi. The?license block extends from shore out into water depths of more than 2,000 m (6,560 ft) and extends across 7,516 sq km (2,900 sq miles), equivalent in size to 327 Gulf of Mexico blocks (or 31 in the UK North Sea).
AziPac director David Sturt stated that the Bone PSC area has a “very prospective” petroleum system, and benefits from a good geographical position within regional markets.
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