Niko Resources, Hess to develop Indonesia project
Niko Resources said a unit of Hess Corp will become a partner in one of the Canadian oil and gas company's production sharing contract in Indonesia.
Niko, which is focused on developing projects in emerging markets, will own 57.5 percent of the Kofiau production sharing contract, while Hess will own the rest.
Niko will drill several wells on the Kofiau PSC as part of an extensive Indonesian deepwater drilling campaign set to commence in 2012, the company said in a statement.
It also announced a joint venture program for a similar project in Indonesia with Norway's Statoil in May.