Ophir completes acquisition of Niko’s four deepwater PSCs

Ophir Energy said that it has completed the acquisition of four deepwater production sharing contracts in Indonesia from Niko Resources.

This follows Ophir’s agreement to acquire interests in a series of Niko’s deepwater PSCs in October last year, the company said in a statement.

The PSCs that have been acquired are West Papua IV, Aru, Kofiau and Halmahera-Kofiau, all of which will be operated by Ophir. The PSCs are located in two core areas in Eastern Indonesia – West Papua and the Western Birds Head, both of which are highly prospective basins with exposure to a mix of proven and frontier oil and gas plays.

Ophir is also in the process of completing the acquisition from Niko of two additional PSCs – North Makassar Strait and North Ganal; a further update on these will be provided in due course. Ophir has separately decided that it will no longer be proceeding with the acquisition of the Obi PSC.

Nick Cooper, CEO, Ophir Energy said that the company will now commission 2D and 3D seismic acquisition programme on these blocks as it looks to build the prospect inventory for high grading and then drilling in 2016-2017.

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Image: Ophir Energy

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