Indonesia picks consortia to explore three oil and gas blocks
INDONESIA has appointed several firms to conduct exploration of three oil and gas blocks, which include units of state energy company Pertamina and Italy’s Eni, the energy ministry said on Wednesday (Feb 22).
The blocks are namely Peri Mahakam, Sangkar and Bunga.
Indonesia plans to offer 10 oil and gas working areas to contractors this year, including a block in the South China Sea, amid efforts to make new discoveries and reach one million barrels of oil per day by 2030.
For Bunga, located north of East Java, a consortium of Pertamina Hulu Energi and South Korea’s Posco International Corporation, senior energy ministry official Tutuka Aridaji told a briefing.
The block has an estimated oil and gas resource of 1.3 billion barrels of oil equivalent, similar to Peri Mahakam, which he said would be explored jointly by a consortium of Pertamina Hulu Energi and Eni Indonesia.
Peri Mahakam covers over 7,400 square km onshore and off East Kalimantan province on Borneo Island.
A NEWSLETTER FOR YOU
Asean Business
Business insights centering on South-east Asia's fast-growing economies.
Exploration of Sangkar block, which has an estimated 130 million barrels of oil and 300 billion cubic feet of natural gas, was awarded to Saka Eksplorasi Timur, Tutuka said. REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Asean
VinFast’s EV ambitions get a reality check as shares plunge 65%
Shell in talks to sell Malaysia fuel stations to Saudi Aramco: sources
Indonesia’s Q1 GDP growth hits 5.11%, surpassing expectations
Top US Treasury official to travel to Singapore, Malaysia to discuss sanctions
Microsoft bets big on South-east Asia, pledges billions in AI and cloud investments
Magnitude 6.0 quake strikes Philippines, aftershocks and damage expected