PETRONAS SECURES THIRD EXPLORATION BLOCK IN INDONESIA

PETRONAS is pleased to announce that its bid for the Tanjung Aru Block, in the Makassar Straits, offshore Kalimantan, Indonesia has been successful. The bid award which is subject to Presidential approval and execution of the Production Sharing Contract (PSC), will see PETRONAS Carigali Sdn Bhd (PETRONAS Carigali), a subsidiary of PETRONAS, hold a 50 percent working interest in the Tanjung Aru Block with Amerada Hess acting as operator having the other 50 percent equity.

The Tanjung Aru Block, which covers some 4,160 sq km with water depths ranging from 150 metres to 1,700 metres, is in the highly prospective Kutei Basin where a number of large oil and gas discoveries have been made in the last few years.

The work programme includes three exploration wells where comprehensive exploration activities will begin shortly with the PETRONAS Carigali – Amerada Hess consortium already having purchased 1,477 sq km of 3D seismic data over the block.

Tanjung Aru will be PETRONAS’ third block in Indonesia. PETRONAS Carigali also holds a 50 percent working interest in each of the other two blocks, namely the Pasemah Block, located onshore South Sumatra and the Ketapang Block, located offshore East Java.

Issued by
Legal & Corporate Affairs Division

Sep 18, 2001OffshoreMan

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