STOCKHOLM -- Lundin Petroleum has signed two new production sharing contracts (PSCs) for the Baronang and Cakalang blocks with BPMIGAS, the Indonesian oil and gas regulating authority. Both blocks are located in the Natuna Sea, offshore Indonesia.
The Baronang block covers an area of approximately 5,157 sq km (1,991 sq mi) and the Cakalang block covers 4,520 sq km (1,745 sq mi). Previous drilling activities on the blocks have confirmed the presence of active petroleum systems in or adjacent to both blocks. Several prospects and leads have been identified in the blocks from earlier 2D seismic campaigns, the company says.