Project Profile
Location: Onshore south Sumatra in Indonesia
Area: 1,000 square kilometre
A consortium led by New Zealand Oil & Gas (NZOG) has won a production sharing contract onshore south Sumatra in Indonesia. The Australia-listed explorer had been offered a permit by the Indonesian regulator to explore the 1,000 square kilometre Palmerah Baru Block. NZOG will have a 36% stake in the PSC. Its partners Bukit Energy Palmerah Baru and PT SNP Indonesia will hold 54% and 10% interests, respectively. Under the deal, the joint venture is expected to commit to an initial three year exploration work programme, including the acquisition of 2D and 3D seismic data and the drilling of one exploration well. The formal award of the PSC is expected in late January 2014.
Operators:
NZOG: Operator with 36% interest
Bukit Energy Palmerah Baru: 54% interest
PT SNP Indonesia: 10% interest