Hogan Lovells has advised leading Canadian independent exploration and production company, Talisman Energy Inc. (“Talisman”) on its farmout to Total of a 50% interest in the Sageri Production Sharing Contract (“PSC”), a 35% interest in the South Sageri PSC and a 20% interest in the Sadang PSC situated in the Makassar Strait in Indonesia. The work commitments during the exploration period include acquiring 2D and 3D seismic as well as drilling two exploration wells.
PTTEP, the Thai national petroleum exploration and production company has a 30% interest in the South Sageri PSC and 40% interest in Sadang PSC. Talisman is the operator of the three PSCs located in the offshore South Makassar Basin. The first exploration well in the Sageri block is scheduled to be spudded by the end of this year.
Our work on this transaction follows on from our advice on Talisman’s successful bid, and the award of, the South Sageri and Sadang blocks in the Indonesian 2009/10 bid round.
Hogan Lovells’ team was led by Brad Roach, a leading energy partner based in Singapore and he was assisted by senior associate, Brigg Baxter. Neil Prendergast, Talisman’s Legal Manager in Jakarta, Indonesia, was actively involved in the transaction.
Commenting on Hogan Lovells’ involvement on Talisman Energy Inc.’s farmout deal, Brad Roach said: “We are very pleased to have assisted Talisman in connection with the award and farmout of these blocks in Indonesia, and wish it and its partners exploration success during the upcoming drilling campaign.”
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