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ASEAN 2022
Part 49: Indonesia | Petroliam Nasional Bhd
Petronas signs production sharing contract for North Ketapang Block
Bernama June 24, 2022 09:56 am +08

KUALA LUMPUR (June 24): Petronas North Ketapang Sdn Bhd, a subsidiary of Petroliam Nasional Bhd (Petronas), has signed a production sharing contract (PSC) for the North Ketapang Block located onshore and offshore East Java, Indonesia.

In a statement, Petronas said the company won the North Ketapang Block during the second round of Indonesia Petroleum Bid Round 2021 and holds a 100% equity in the 3,131.8 sq km block with water depths of up to 100 metres below the sea level.

The PSC was signed at the Indonesia's Ministry of Energy and Mineral Resources office, where Petronas was represented by PC Ketapang II Ltd president director Yuzaini Md Yusof, while SKK Migas was represented by the head of SKK Migas, Dwi Soetjipto.

According to Petronas' vice-president of exploration, upstream, Mohd Redhani Abdul Rahman, the signing of the North Ketapang Block further enhances Petronas’ existing upstream portfolio in Indonesia, providing the opportunity to address growing energy demand in the country.

"Petronas is extremely pleased to be awarded this PSC, and we will work closely with our partners as well as SKK Migas to unlock the hydrocarbon potential that lies within the block," he said.

Petronas is also the operator of the Ketapang PSC and North Madura II PSC, offshore East Java, and is a joint-venture partner in six other PSCs located both onshore and offshore Sumatra, Natuna Sea, East Java, as well as East Indonesia.

https://www.theedgemarkets.com/artic...ketapang-block