Malaysian oil and gas company Petronas, via its subsidiary Petronas North Ketapang, has signed a Production Sharing Contract (PSC) for the North Ketapang Block located onshore and offshore East Java, Indonesia.
Petronas won the North Ketapang Block during the second round of Indonesia Petroleum Bid Round 2021 and holds a 100 per cent equity in the 3,131.8-square kilometre block with water depths of up to 100 metres below sea-level.
The PSC was signed at the Indonesia 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 Head of SKK Migas, Dwi Soetjipto.
Petronas Vice President of Exploration, Upstream, Mohd Redhani Abdul Rahman said, “The signing of the North Ketapang Block further enhances Petronas’ existing upstream portfolio in Indonesia, providing the opportunity to address the growing energy demand of 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.”
Petronas is also the operator for 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 of Sumatra, Natuna Sea, East Java, as well as East Indonesia.