BP gets four contracts in Indonesia

BP gets four contracts in Indonesia

11:01 AM, 2nd April 2011
BP gets four contracts in Indonesia
Bob Dudley, Chief Executive group, BP.

 

LONDON, UK: BP confirmed it has signed four new coalbed methane (CBM) production sharing contracts (PSCs) in the Barito basin of South Kalimantan, Indonesia.

 

BP and co-owner Pertamina were jointly awarded the Tanjung IV CBM PSC through a direct award from the government of Indonesia. BP will hold a 44 per cent participating interest in the PSC with Pertamina holding the remaining 56 per cent.

 

BP and co-owner PT Sugico Graha (Sugico) were jointly awarded the Kapuas I, II and III CBM PSCs through a direct offer from the government of Indonesia. BP will hold a 45 per cent participating interest in the PSCs with Sugico holding the remaining 55 per cent.

 

“Today’s agreements follow on from BP’s recent agreements to access new resources in Indonesia, China, India and Australia. BP has significant expertise in development of unconventional gas, including coalbed methane, and we look forward to working with our partners to apply this to the potential of Indonesia's coal resources,” said Bob Dudley, Chief Executive group, BP.

Together, the four PSCs cover an area of approximately 4,800 square kilometres. These awards mark BP’s first CBM access in Indonesia outside its joint venture with ENI, VICO, which in late 2009 was awarded the Sanga Sanga CBM PSC near the Bontang LNG plant in East Kalimantan.

© WOC News

 

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