Ophir Completes Acquisition of Four Indonesian PSCs from Niko

Ophir Energy has completed the acquisition of four deepwater Production Sharing Contracts (PSCs) in Indonesia from Niko Resources, the company announced Tuesday.

This follows the announcement of the agreement to acquire interests in a series of Niko's deepwater PSCs in October last year.

The PSCs 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 said.

Ophir is also in the process of completing the acquisition from Niko of two additional PSCs - North Makassar Strait and North Ganal.

“Ophir will now commission 2D and 3D seismic acquisition programme on these blocks as we look to build our prospect inventory for high grading and then drilling in 2016-2017,” Nick Cooper, CEO, Ophir Energy, commented.