PETRONAS North Ketapang Sdn Bhd, a subsidiary of PETRONAS, has signed a production sharing contract (PSC) for the North Ketapang Block offshore and onshore East Java, Indonesia.
During the second round of Indonesia Petroleum Bid Round 2021, Petronas won the North Ketapang Block and holds a 100 percent equity interest in the 3,131.8-square-kilometre block with water depths up to 100 meters under the sea.
Yuzaini Md Yusof from PETRONAS represented the company at the Indonesia Ministry of Energy and Mineral Resources, while Dwi Soetjipto, represented SKK Migas.
PETRONAS Vice President of Exploration, Upstream, Mohd Redhani Abdul Rahman said, “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.”
Additionally, PETRONAS operates the Ketapang PSC and the North Madura II PSC, both offshore East Java, and is a joint venture partner in six other petroleum service companies located onshore and offshore Sumatra, the Natuna Sea, East Java, as well as East Indonesia.