Petronas Wins North Madura and Kuala Kurun Blocks
18 March 2015 17:18 WIB
TEMPO.CO, Jakarta - Malaysian company Petronas Carigali has won the auctions for conventional oil and gas working areas in Central Kalimantan and East Java.
In East Java, Petronas was awarded with the North Madura II working region with an area of 1,200 km. Investment value of the area is estimated to reach US$60 million. Meanwhile, in Central Kalimantan, Petronas won the 8,209-km Onshore Kualakurun region. To manage the area, Petronas cooperates with PT Petcon resources in a US$2.07 million investment.
Petronas Carigali general manager Hazli Sham B. Kassim said that there would be an assessment for those two blocks before it can be explored and exploited in 2015.
"We can't speculate about the blocks' potentials before a study is conducted, he said on Wednesday, March 18, 2015.
ALI HIDAYAT