PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / Agency / Source: IAGO Limited

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

IAGO Wins Offshore Oil Exploration Block in Indonesia - Oil and gas exploration companies who won blocks will immediately be able to extract oil and gas discovered at their sites, but the Indonesian government has retained the option to pay compensation to companies to keep crude in the ground
IAGO Wins Offshore Oil Exploration Block in Indonesia

 

NewswireToday - /newswire/ - Calgary, Alberta, Canada, 2012/07/18 - Oil and gas exploration companies who won blocks will immediately be able to extract oil and gas discovered at their sites, but the Indonesian government has retained the option to pay compensation to companies to keep crude in the ground.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Canadian oil and gas exploration giant IAGO Limited, has won a bid for a key oil and gas exploration block in the second day of Indonesia’s first International auction round of 2012. The block IAGO won covers about 3,600 sq. km and is located about 125 km north-west of the Bontang LNG processing facility.

The second day of bidding followed a sluggish start to the auction on Wednesday when only one block was taken by Italian oil and gas exploration company ENI, four other blocks got no bids and another deal failed after companies rejected the government offer. Bidding at the auction was decided according to the remuneration fees offered, with the lowest bids winning blocks.

Oil and gas exploration companies who won blocks will immediately be able to extract oil and gas discovered at their sites, but the Indonesian government has retained the option to pay compensation to companies to keep crude in the ground to help boost its reserves.

Indonesian government is hoping that, this auction would spur the expansion of the energy sector of country and also declared that it would shortly open a second round auction with more new oil and gas exploration blocks.

According to the deal, IAGO (iagolimited) will be the operator with 90% interest in this block and the Indonesian government has a 10% interest, prior to designation of any commercial discovery. The exploration procedure will include a full 3D seismic survey of the whole area and the drilling of one well. IAGO hopes to complete it within the next three years.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: IAGO Limited

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


IAGO Wins Offshore Oil Exploration Block in Indonesia

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Tim Black - IAGOLimited.com 
866-341-7011 press[.]iagolimited.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any IAGO Limited securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From IAGO Limited / Company Profile


Read Energy Most Recent Related Newswires:

ENGIE and Statoil Agree on the Renegotiation of Their Long-term Gas Supply Contracts
Vestas Secures 112 MW for Three Projects in France
ENGIE and AES Andres Leverage Core Strengths to Provide Reliable and Competitive LNG Supply in the Caribbean
Power Costs, Inc. (PCI) and GE Power Collaborate to Link Energy Operations with Energy Trading for End-to-End Machine to Market Software Solutions
GE Oil & Gas Signs Agreement with TAG GmbH to Install New Tuning Maintenance (TUMAS) Software on Entire Fleet of Gas Turbines
ENGIE Announces Two New Major Collaborations to Foster New Innovative Green Gas Production Methods Across Europe
Enel Inaugurates Apiacás Hydropower Complex in Brazil
Steam and Gas Turbine Manufacturers Realign Strategies to Harness Growth Opportunities within Clean Power Generation
Enel Starts Construction of Peru’s Largest Solar PV Plant
GE and Maersk Drilling to Pilot Marine Digital Transformation
SolarWinds to Join the Discussion on Interoperable IT Management for Defense Forces at AFCEA’s TechNet Asia-Pacific 2016
BP and GE Launch New Offshore Digital Technology with Plans to Deploy Globally
GE Digital Acquires ServiceMax to Extend Predix and Analytics Across Field Service Processes
GE Digital Launches Collaborative App Development Program to Expand Digital Industrial Ecosystem
Voith Awarded A Prestigious Automation Contract for Two Norwegian Hydropower Plants

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  NAKIVO, Inc.

Visit  JobsWare.com





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)