Total announces the signature of an agreement with Pearl Oil (Sebuku) Ltd (“Pearl”), a subsidiary of Mubadala Development Company PJSC, to acquire a 15 percent interest in the Sebuku license, in which the Ruby gas discovery was made. Under the terms of the agreement, Pearl Oil, as operator, will retain a 70 percent interest, Inpex holding further 15 percent.
Located 300 kilometres south of the Total-operated Peciko facilities, this license covers an area of more than 2,300 square kilometers, in water depths ranging from 50 to 200 meters. The Ruby plan of development was approved by the Indonesian authorities in July 2008 and the operator expects the field to come on stream in 2013, with a natural gas production target of 100 million cubic feet per day (around 1 billion cubic metres per year).
The acquisition will allow Total to consolidate its presence in the Kalimantan region, near the Mahakam and South East Mahakam licenses operated by the Group.
Total is present in Indonesia through its affiliates, Total E&P Indonesie and PT Total Oil Indonesia, Total has been present in the country since 1968, with operations concentrated in the Offshore Mahakam block in East Kalimantan. Total is the first gas producing operator in Indonesia and currently contributes to around 80 percent of the Bontang LNG Plant supply. Indonesia represented 8 percent of Total Group’s equity production in 2009, amounting to 190,000 barrels of oil equivalent per day.
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