During the second round of the Indonesia Petroleum Bid Round 2021, PETRONAS announced that its subsidiary PC Ketapang II Ltd has been awarded the North Ketapang block, located onshore and offshore East Java.
As a result of the successful bid, PETRONAS will have 100% equity and will take over the operatorship of the block.
The block is 3,131.8-square kilometers with water depths of up to 100 meters below sea level.
PETRONAS Executive Vice President and Chief Executive Officer of Upstream, Adif Zulkifli said, “PETRONAS wishes to congratulate the Government of Indonesia on a successful bid round. We are delighted with the outcome of the bid round as the North Ketapang block is located to an adjacent block where an encouraging discovery was made last year.”
“With the support of the Government of Indonesia, we will continue to strengthen our upstream ventures towards unlocking greater value that contributes to the development of Indonesia’s energy industry. As a progressive energy and solutions partner, PETRONAS is committed to deliver safe and reliable supply of energy to Indonesia,” Zulkifli added.
It is worthy of noting that PETRONAS is also the operator for the Ketapang Production Sharing Contract (PSC) and North Madura II PSC offshore East Java. In addition, PETRONAS is a joint venture partner in six PSCs located both onshore and offshore Sumatra, Natuna Sea, East Java, and East Indonesia.