Indonesia Signs Eight Oil and Gas Contracts

Indonesia's upstream oil and gas regulator SKK Migas signed eight oil and gas contracts on Wednesday at the Indonesia Petroleum Association conference, with total estimated resources of around 13.8 trillion cubic feet of gas.

Here are some details:

Indonesia signed a contract for the Southwest Andaman block in offshore Aceh with Mubadala Petroleum Limited of the United Arab Emirates. The block is estimated to have potential resources of around 3 trillion cubic feet (tcf) of gas.

Contracts for the Bintuni and Drawa blocks located in offshore West Papua were signedwith a consortium consisting of four companies: BP Exploration Indonesia Ltd, MI Berau B.V., CNOOC Southeast Asia Ltd, and Indonesia Natural Gas Resources Muturi Inc.

The Bintuni block has estimated resources of around 2.1 tcf of gas while Drawa has estimated resources of around 360 billion cubic feet of gas.

The Jalu block in offshore Andaman Sea, which has estimated resources of 2.9 tcf of gas, was awarded to Armada Jalu B.V.

A consortium consisting of Japan's Inpex Corporation and BP Exploration Indonesia Limited signed a contract for the Barong block, which is located off the coast of East Java and South Sulawesi and has a gas potential of around 2.9 tcf.

A unit of Medco Energi Internasional, Medco Energy Linggau, signed a contract for the Nawasena block, which is located in East Java province, with estimated resources of 1.3 tcf

The Gagah block in onshore South Sumatra, with estimated resources of 173 million barrels of oil or 1.1 tcf, was awarded to Proteknik Gagah Energi, while the Karunia block with estimated resources of 0.13 tcf was awarded to Sele Energi.

(Reuters - Reporting by Bernadette Christina; Editing by David Stanway)

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