AWE Completes Acquisition of Indonesian Offshore Assets

AWE Completes Acquisition of Indonesian Offshore Assets

AWE Limited  has completed the transaction to acquire a 100% interest and operatorship of two Production Sharing Contracts offshore Indonesia effective 17 February 2012.

The two PSCs, the North West Natuna Production Sharing Contract (“NWN PSC”) and the Anambas PSC are located in the Natuna Sea in 70 metres to 90 metres of water. The NWN PSC contains the undeveloped Ande Ande  Lumut (“AAL”) Oil Field which is estimated to contain 76 million barrels of recoverable heavy oil. Three exploration and appraisal wells have been drilled in the field.

The Anambas PSC contains the Anambas Gas Field, discovered in 2006, together with a number of additional exploration prospects within an offshore area containing significant gas development and pipeline infrastructure.

Commenting on the Completion, AWE Managing Director Bruce Clement said:  “AWE is excited by the opportunity that this transaction provides to the Company. The Company believes that the acquisition provides a valuable growth opportunity, through the development of the Ande Ande Lumut oil field and the potential exploration opportunities already identified in both Production Sharing Contracts.”

Offshore Energy Today Staff, February 17, 2012; Image: AWE

 

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply