Wed, 25 May 2011

From: Reuters

(Reuters) - Canadian oil and gas company Niko Resources Ltd said Norway's Statoil through its units will become a joint venture partner in Niko's production sharing contracts in Indonesia.

Oil and gas company Statoil will earn a 40 percent working interest in each production sharing contract.

The contracts are located in North Makassar Strait, West Papua IV and Halmahera-Kofiau in Indonesia, where Niko plans to drill wells as part of a deepwater drilling campaign, set to commence early 2012.