BP Awarded Exploration Block in Indonesia

Source: www.gulfoilandgas.com 11/26/2010, Location: Asia

Following an announcement last week by the Government of Indonesia last week, BP confirmed that it has been awarded a 100 per cent interest in the North Arafura oil and gas production sharing contract (PSC) in onshore Papua Province. The PSC was signed in Jakarta by representatives of the Government and BP.

The North Arafura PSC is located on the coast of the Arafura Sea, 480 kilometres southeast of the BP-operated Tangguh plant, covering an area of just over 5,000 square kilometers. BP expects to commence seismic operations on the block in the near future.

“This award is further evidence of BP’s commitment to a long-term presence in Indonesia, working in partnership with the Government of Indonesia both centrally and regionally. BP is very pleased to expand our position in Papua, an area with huge potential in its people, culture and natural resources,” said William Lin, BP's President for Asia Pacific Exploration & Production.


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