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AsianOil: BP, Petronas win offshore blocks in Indonesian auction

Super-major BP and Malaysia’s Petronas both announced on March 18 that they had been awarded deepwater exploration blocks as part of the second round of Indonesia’s 2021 Oil and Gas Working Area (WK) Bid Round.
BP has been awarded the Agung I and Agung II blocks, while Petronas won rights to the North Ketapang block.
The Agung I Block covers an area of 6,656 square km offshore Bali and East Java, while the Agung II Block covers an area of 7,970 square km and is located offshore South Sulawesi, West Nusa Tenggara and East Java. In a statement, BP described the area as “underexplored with significant potential of gas resource close to growing gas demand”.
The super-major has been awarded a 100% interest in both blocks. It said it continued to grow its presence in Indonesia, where it also operates the Tangguh LNG project and has a non-operated 30% interest in the Andaman II production-sharing contract (PSC) offshore Aceh.
The North Ketapang block, which was awarded to Petronas, is located onshore and offshore East Java. Petronas will own a 100% interest in the block, which covers 3,132 square km.
Petronas is also the operator of the Ketapang PSC and North Madura II PSC offshore East Java, as well as being a joint venture partner in six PSCs located both onshore and offshore Sumatra, the Natuna Sea, East Java and East Indonesia.