ConocoPhillips and StatOil to Work on Oil and Gas Project

Wednesday, 17 January, 2007 | 16:38 WIB

TEMPO Interactive, Jakarta: ConocoPhillips and StatOil have signed a partnership contract for the Kuma Block, East Makassar.

The US and Norwegian companies are cooperating in the oil and gas sector in Indonesia.

Bill Berry, Executive President of Exploration and Production of ConocoPhillips, said yesterday (01/16) in a press conference that the signing was a big strategic step so as to develop their business in Indonesia.

ConocoPhillips and StatOil already presented their Kuma Block offer through a direct offer process on 12 October 2006.

The settlement as the block winner was announced on 13 December 2006.

Bill Maloney, Senior Vice President of Global Exploration E&P StatOil, said that for StatOil, it will be a crucial start to enter upstream business in Indonesia.

“In the project, we will use our experience of deep sea operation and improve our capability of applying the advantage of technology on upstream business,” he said.

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