Anadarko to spend $130 million for Indonesian exploration work

US oil company Anadarko Petroleum plans to spend a total of US$130 million during the initial three-year work program in Indonesia, a company official said Wednesday.

The total expenditure included an $80 million commitment with PT Medco Energi Internasional to fund exploration activities on acres onshore and offshore Sumatra, Kalimantan, Sulawesi, Java and Papua, Anadarko Indonesia president and general manager Greg A. Lanham said in his presentation.

In December 2004, Anadarko was awarded exploration and production rights to the North East Madura III (NEM III) block located offshore East Java. Meanwhile, the company has also signed an agreement with Medco Energi to gain exploration access over 13 blocks.

Lanham also said Anadarko had completed an extensive 3-D seismic survey covering 2560 sq km area of the NEM III block. ?Multiple high quality exploration targets are identified,? he said.

Anadarko is obligated to drill six exploration wells during the initial work program for its NEM III block. (alex)