Gulf Oil and Gas accountACCOUNT

BP Awarded Two Exploration Blocks in Indonesia

Source: www.gulfoilandgas.com 11/21/2011, Location: Asia

BP confirmed today that it has been awarded two oil and gas production sharing contracts (PSCs) by the Government of Indonesia. The company has been awarded 100 per cent interests in the offshore West Aru I and II PSCs in the Arafura Sea, Indonesia.

The West Aru I and II PSCs are located approximately 500 kilometres southwest of the BP-operated North Arafura PSC and 200 km west of the Aru island group, in the Maluku province of Indonesia. The West Aru I PSC covers an area of approximately 8,100 square kilometres and the West Aru II PSC covers an area of approximately 8,300 square kilometres. The two blocks have water depths ranging between 200 metres and 2,500 metres. BP expects to commence seismic operations in these blocks in the near future.

In the past two years BP has deepened its position in Indonesia through access to four coalbed methane PSCs in Kalimantan and three conventional gas blocks in Papua. These two new blocks are strong additions to this portfolio and will benefit from BPs expertise in deepwater exploration. We appreciate the continued support and confidence of the Government of Indonesia, said William Lin, BP's Regional President for Asia Pacific.

Including the award of these blocks, BP has gained access to 69 new licence blocks in 11 countries around the world since October 2010, including the Kalimantan coalbed methane and North Arafura blocks in Indonesia. The company plans to double its spend on exploration worldwide over the next few years.

Acquisitions and Divestitures News in Indonesia >>

Argentina >>  4/17/2019 - Equinor adds seven offshore exploration blocks to its portfolio, after presenting winning bids in the 1st Offshore Licensing Round in Argentina. ...
Argentina >>  4/16/2019 - Qatar Petroleum has won exploration rights in five offshore blocks in the North Argentina, and Malvinas West basins in Argentina. ...

Russia >>  4/16/2019 - Gazprom Neft subsidiary Gazpromneft-Zapolyarye has concluded long-term risk-based operator agreements with Gazprom PJSC subsidiaries, allowing the com...
United Kingdom >>  4/16/2019 - Union Jack Oil plc (UJO), a UK focused on-shore hydrocarbon production, development and exploration company is pleased to announce that it has conditi...

United Kingdom >>  4/16/2019 - Europa Oil & Gas (Holdings) plc, the UK and Ireland focused exploration, development and production company, is pleased to announce it has conditional...
Mexico >>  4/15/2019 - MODEC, Inc. ("MODEC), Mitsui & Co., Ltd. and Mitsui O.S.K. Lines, Ltd. (MOL) jointly announce that Mitsui and MOL have participated in a long-term ch...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Indonesia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |

More News

Related Links

AZ BD BN CN GE HK ID IN IR JP KR KZ MM MN MY PG PH PK RU SG TH TJ TM TW UA UZ VN
Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.