JAPEX Acquire Stake in Indonesia Oil, Gas Block

Japan Petroleum Exploration (JAPEX) through its wholly owned subsidiary, Japex West Natuna, has signed an agreement to acquire a 30% participating interest in the Kerapu Block, located in the West Natuna Sea, Indonesia from a wholly owned subsidiary of Mubadala Petroleum which holds a 100% interest in the Kerapu Block.

The Kerapu Block is located approx. 200km northwest of Natuna Island, in the Indonesian waters of the West Natuna Sea, covering an area of 3,100km2 with a water depth of around 60m. 3D seismic was acquired in 2010 and an exploratory well is planned in 2013.

the Japanes firm is focusing on the South East Asia region and plans to seek additional E&P opportunities in the region, the company said.