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rench oil company Total SA and Japanese oil company Inpex Corporation have acquired a combined 30 percent stake in the Sebuku gas block, off Kalimantan, the two companies announced Friday.

Total and Inpex acquired the stakes from Pearl Energy’s subsidiary, Pearl Oil (Sebuku) Limited.

Pearl Energy is an oil and gas company wholly owned by Mubadala Development Company, which is a sovereign wealth fund of Abu Dhabi, in the United Arab Emirates .

Total acquired the block through its local unit, Total E&P Indonesie, while Inpex farmed in into the block through its wholly owned subsidiary, Inpex South Makassar, Ltd.

After the acquisition, Pearl Oil continues to operate with a 70 percent participating interest, while Total and Inpex each holds a 15 percent participating interest.

Exploration activities in the block had found the Ruby gas field, the companies said.

Inpex and Total said the plan of development (POD) for the Ruby gas field had been approved by the government in July 2008.

The operators expect the field to come on stream in 2013, with a targeted gas production of 100 million cubic feet of gas per day.

The Sebuku block covers a 2,345-square-kilometer area with a water depth ranging from 50 meters to 200 meters.

The acquisition will help Total and Inpex streamline their production facilities, since the Ruby block is situated 300 kilometers from the offshore Mahakam Block, which is also operated by Total and Inpex.

“The acquisition will enable Total to consolidate its presence in Kalimantan,” Total said.

Total and Inpex each holds a 50 percent participating interest in the Mahakam Block.

The Mahakam Block is the major gas supplier for the Bontang liquefied natural gas (LNG) plant in Bontang, East Kalimantan.

Upstream oil and gas regulator BPMigas expects the block to produce 2.26 billion cubic feet of gas per day this year.

As of Aug. 26, the block has produced 2.52 billion cubic feet of gas per day.

In 2011, the block is expected to produce 2.35 billion cubic feet of gas per day.

The Mahakam block’s current contract is due to expire in 2017 with state oil and gas company PT Pertamina seeking to enter into the block before the contract is terminated.

Pertamina has said it plans to offer part of its stake in one of its oil and gas blocks to Total, in exchange for an interest in the Mahakam Block.

The two companies are still negotiating this matter.