BP has signed the 30-year production sharing contracts (PSC) for Agung l and Agung ll exploration blocks with the government of Indonesia, it said on June 20. The signing follows the decision to award the two gas blocks during the second round of the 2021 Oil and Gas Working Area Bid Round.
The Agung I block covers an area of 6,656 km2 deepwater offshore Bali and East Java, while the Agung II is located deepwater offshore of South Sulawesi, West Nusa Tenggara and East Java covering an area of 7,970 km2.
“The area is underexplored with significant potential of gas resource close to growing gas demand,” BP said.
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