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

Shell’s Brazil-Bound FPSO Starts Taking Shape

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

Seatrium Secures ABS Backing for Deepwater FPSO Design

MDL Secures Cable Laying Job in Asia Pacific

Japan Picks Wood Mackenzie to Assess Trump-Backed Alaska LNG Scheme

PTTEP Greenlights $320M Offshore CCS Project at Arthit Gas Field in Thailand

Subsea7 Secures Work at Black Sea Field off Türkiye

PXGEO Nets First Seismic Survey off Malaysia

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

Fugro Expands Geotechnical Testing Capabilities in Indonesia

Current News

Shell’s Brazil-Bound FPSO Starts Taking Shape

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

SBM Offshore, SLB to Optimize FPSO Performance Using AI

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

Aesen, DOC JV Targets Subsea Cable Logistics

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Seatrium Secures ABS Backing for Deepwater FPSO Design

MDL Secures Cable Laying Job in Asia Pacific

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