| << Back |
Amerada Hess (NYSE: AHC) has been notified of its successful bid for the Tanjung
Aru block, offshore East Kalimantan, Indonesia.
The award of the block, which is subject to Presidential approval and execution
of the Production Sharing Contract (PSC), will see Amerada Hess as the operator
of the block with a 50% interest with license partner, Malaysia's Petronas Carigali,
also having 50% equity.
The Tanjung Aru block, which covers some 4160km2 with water depths ranging from
150m to 1700m, is in the highly prospective Kutei basin where a number of large
oil and gas discoveries have been made in the last few years.
Comprehensive exploration is expected to begin in early 2002 with Amerada Hess
already having purchased 1477km2 of 3D data over the block.
Tanjung Aru brings the company's total number of Indonesian blocks to six, only
4 years after Amerada Hess first became an operator in Indonesia in 1997 by farming
in to the Lematang PSC, containing the Singa gas field.
Earlier this year Amerada Hess signed a Gas Supply contract with other PSC partners
for supply of gas from the Jabung PSC in South Sumatra to Singapore. Discussions
are ongoing for the potential sale of gas from the Jambi Merang JOB in which Amerada
Hess holds a 25% interest.
In East Java, Amerada Hess holds a 36% interest in the Ujung Pangkah field and
has agreed to purchase Premier Oil's 40% operated interest in the field which
contains two discoveries, one of which has certified gas reserves of approximately
500 BCF. Amerada Hess also holds a 30% interest in the Blora PSC where an exploration
well is planned later in 2001.
A map showing the location of the Tanjung Aru block is available at: http://www.hess.com/news/pr_01sep18map.html
Contact: Amerada Hess Corporation.......Andy Mitchell on + 44 (0)20 7887 2675
Notes to Editors.
Amerada Hess, headquartered in New York, is a global integrated energy company
engaged in the exploration for and the production, purchase, transportation
and sale of crude oil and natural gas, as well as the production and sale of
refined petroleum products. Exploration and production activities take place
primarily in the United States, the United Kingdom, Norway, Denmark, Equatorial
Guinea, Gabon, Algeria, Thailand, Malaysia, Indonesia, Azerbaijan, Brazil and
Colombia.
Amerada Hess produced 416,000 barrels of oil equivalent per day during the first
six months of 2001, about two-thirds of which was oil and one-third natural
gas. Amerada Hess' total proved oil and gas reserves at December 31, 2000 were
about 1.1 billion barrels of oil equivalent and have increased significantly
since the acquisition of Triton Energy in August 2001.