Indonesia picks consortia to explore three oil and gas blocks

Posco International

22/02/2023 07:05

JAKARTA, Feb 22 (Reuters) - Indonesia has appointed
several firms to conduct exploration of three oil and gas
blocks, which include units of state energy company Pertamina
and Italy's Eni  ENI.MI , the energy ministry said on Wednesday.
    The blocks are namely Peri Mahakam, Sangkar and Bunga.
    Indonesia plans to offer 10 oil and gas working areas to
contractors this year, including a block in the South China Sea,
amid efforts to make new discoveries and reach one million
barrels of oil per day by 2030.
    For Bunga, located north of East Java, a consortium of PT
Pertamina Hulu Energi and South Korea's POSCO International
Corporation  047050.KS , senior energy ministry official Tutuka
Aridaji told a briefing. 
    The block has an estimated oil and gas resource of 1.3
billion barrels of oil equivalent, similar to Peri Mahakam,
which he said would be explored jointly by a consortium of
Pertamina Hulu Energi and Eni Indonesia. 
    Peri Mahakam covers over 7,400 square km (2,857 square
miles) onshore and off East Kalimantan province on Borneo
Island. 
    Exploration of Sangkar block, which has an estimated 130
million barrels of oil and 300 billion cubic feet of natural
gas, was awarded to PT Saka Eksplorasi Timur, Tutuka said. 
 (Reporting by Fransiska Nangoy; Editing by Martin Petty)
 ((Fransiska.Nangoy@thomsonreuters.com;))