US explorer Amerada holds an option to farm into the Lematang production sharing contract if the Singa-1 well is successful. It would also take over operatorship from Australia's Energy Equity to drill two more exploration wells and acquire additional 3D seismic. Novus and Coparex have similar options to take up 15% each of the production sharing contract while Energy Equity will retain a 20% stake, subject to approval from Pertamina, Indonesia's state-run energy company.
Amerada closes on Singa stake
AMERADA Hess is poised to assume operatorship and formally farm into 50% of Indonesia's onshore Singa prospect. Novus Petroleum and Coparex are coming along for the ride amid healthy signs of hydrocarbons, a source close to the joint venture told Upstream.
14 June 1997 0:00 GMT
Updated
14 June 1997 0:00 GMT