Petronas Secures 20-Year Extension for Java Sea Operations

Thursday, January 4, 2024

Petronas, through its subsidiary PC Ketapang II, has secured a 20-year extension of the Production Sharing Contract (PSC) for the Ketapang Working Area, located in the Java Sea.

Due to expire in 2028, the Ketapang PSC extension was officially granted by the Government of Indonesia through the Ministry of Energy and Mineral Resources on 22 December 2023 with the same composition of participating interests.

Petronas is the operator for the Ketapang, North Madura II, and North Ketapang PSC, located offshore East Java, and is a joint venture partner in seven PSCs located both onshore and offshore Sumatra, Natuna Sea, East Java, as well as East Indonesia.

 “We are grateful to the Government of Indonesia for the PSC extension, which will allow Petronas to continue leveraging our strong portfolio in Indonesia, through our key strategic projects that we have planned for the Ketapang Working Area.

“Since its first oil production in 2015, PC Ketapang II has emerged as one of the key upstream players in East Java, delivering resources to effectively meet the region’s energy demand, and we will continue to foster robust collaborations with the Government of Indonesia and our partners to contribute towards reaching the national production targets,” said Adif Zulkifli, Executive Vice President and Chief Executive Officer of Upstream Petronas.

Categories: Energy Offshore Energy Industry News Activity Asia Asia Pacific Oil and Gas

Related Stories

Woodside Finds South Korean Partners to Advance LNG Value Chain

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Fugro Expands Geotechnical Testing Capabilities in Indonesia

CNOOC Starts Production at Offshore Field in South China Sea

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

Fugro Lands Deepwater Gas Field Job in Southeast Asia

Woodside to Shed Some Trinidad and Tobago Assets for $206M

Current News

EnQuest Acquires Harbour Energy’s Vietnamese Assets

Woodside Finds South Korean Partners to Advance LNG Value Chain

Valeura Makes Progress with Multi-Well Drilling Campaign in Gulf of Thailand

Santos and QatarEnergy Agree Mid-Term LNG Supply

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com