Murphy to farm out interest in South Barito PSC
Thursday, September 10 2009 - 06:43 PM WIB
US oil, gas firm Murphy Oil Corp. is seeking to farm-out part of interest in South Barito in the Barito Basin of the SE Kalimantan.
According to a document obtained by Petromindo.Com, the company seeks a carry of the cost of a 2D seismic program for 40% participating interest in the PSC.
The PSC was awarded on May 28, 2008 with two-well commitment in the third year and another one in the sixth year. The currently company holds 100 percent interest in the PSC.
Murphy is in the process of planning to acquire 700km of new 2D seismic in 2010 to enhance structural definition of existing prospects and leads and to identify new exploration opportunities, the company said. ?Early participation will allow Murphy and its partner to influence the seismic program and select the optimum prospects for a two well drilling program commencing in 2011,? it said.
According to the document, access will be granted for a 2-day period to a physical data room and a Landmark workstation project in Jakarta following signing of confidentiality agreement. The dataroom will be open from October 5-30, it said.(godang)