Saturday, November 26, 2011

BP awarded exploration blocks in Indonesia

Saturday, November 26, 2011

BP received two oil and gas product sharing contracts (PSCs) from the Government of Indonesia.

The company received 100 percent interests in the offshore West of Aru I and II PSCs in the Arafura Sea, Indonesia.

The West of Aru are I and II PSCs is approximately 500 kilometers southwest of the BP-operated North Arafura PSC and 200 km west of the Aru islands of the Moluccas in Indonesia.

The West of Aru I comprises an area of about 8,100 km2 PSC and the West of Aru II PSC covers an area of approximately 8,300 km2.

The two blocks have water depths between 200 metres and 2,500 metres. BP expects that begin in the near future seismic activity in these blocks.

"In the last two years BP's position in Indonesia by access to four Coalbed Methane PSCs in Kalimantan and three conventional gas blocks in Papua, deepened", said William Lin, BP President Asia Pacific regional.

"These two new blocks are strong complements this portfolio and benefit from expertise in BP Exploration in the deep sea." "We appreciate the continued support and confidence of the Government of Indonesia."

Including the award of these blocks BP access blocks in 11 countries around the world on 69 new license since October 2010, including Kalimantan Coalbed Methane and North Arafura blocks in Indonesia won. The company plans to double worldwide spend his exploration in the next few years.

View the original article here

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