LogIn LogOut

Petronas Wins Bid for Oil and Gas Block in Indonesia

March 18, 2022

Credit: Indonesian Ministry of Energy and Mineral Resources
Credit: Indonesian Ministry of Energy and Mineral Resources

Petronas' subsidiary PC Ketapang II has won the North Ketapang block, located onshore and offshore East Java, Indonesia, during the second round of the Indonesia Petroleum Bid Round 2021.

The result was announced by the Ministry of Energy and Mineral Resources, Indonesia Friday.

Petronas, through its subsidiary, will operate and hold a 100 percent equity in the 3,131.8-square kilometer block with water depths of up to 100 meters. According to a presentation by the Indonesian government, the stimated recoverable resources at the block are 270.08 mmbo and 1,580.81 bcf.  Surrounding oil & gas fields include Ketapang, Bukit Tua, Jenggolo, Poleng, Sidayu, WMO, dan Camar.

Petronas Executive Vice President and Chief Executive Officer of Upstream, Adif Zulkifli said:"Petronas wishes to congratulate the Government of Indonesia on a successful bid round. We are delighted with the outcome of the bid round as the North Ketapang block is located to an adjacent block where an encouraging discovery was made last year."

“With the support of the Government of Indonesia, we will continue to strengthen our upstream ventures towards unlocking greater value that contributes to the development of Indonesia’s energy industry. As a progressive energy and solutions partner, PETRONAS is committed to deliver safe and reliable supply of energy to Indonesia,” he added.

Petronas is also the operator for the Ketapang Production Sharing Contract (PSC) and North Madura II PSC offshore East Java and is a joint venture partner in six PSCs located both onshore and offshore Sumatra, Natuna Sea, East Java, as well as East Indonesia.



Current News

Malaysia's Kimanis Crude Exports to Drop in July After Offshore Outage

Malaysia's Kimanis Crude Exports to Drop in July After Offshore Outage

Borr Drilling Finds More Work for Saga Jack-up Drilling Rig

Borr Drilling Finds More Work for Saga Jack-up Drilling Rig

Ørsted, TSS Hold Naming Ceremony for First Asia-built SOV

Ørsted, TSS Hold Naming Ceremony for First Asia-built SOV

Chevron Wraps Up Wheatstone Maintenance

Chevron Wraps Up Wheatstone Maintenance

Bahrain State Oil Company to Appoint Financial Adviser, CEO Says

Bahrain State Oil Company to Appoint Financial Adviser, CEO Says

Woodside Sees Slim Risk of Big Share Selloff by BHP Investors

Woodside Sees Slim Risk of Big Share Selloff by BHP Investors

Saudi Arabia Set for Oil Output Capacity Above 13 mln bpd by 2027

Saudi Arabia Set for Oil Output Capacity Above 13 mln bpd by 2027
photo

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