Indonesia awards two gas-prospective PSCs close to Tangguh LNG project
EnQuest confirmed Aug. 26 its entry into E&P in Indonesia, signing two production sharing contracts (PSCs) for Gaea and Gaea II in the southern Papua Barat province with SKK Migas.
The London-based company will operate the offshore/onshore Gaea II and the mainly onshore Gaea blocks, in partnership with the Tangguh joint venture (JV) and Agra.
The Tangguh JV comprises bp Exploration Indonesia, IMI Berau B.V. (an INPEX and Mitsubishi JV company), CNOOC Southeast Asia, ENEOS Xplora, Indonesia Natural Gas Resources Muturi (owned by LNG Japan Corp.), and Mitsui subsidiary KG Petroleum.
Both Gaea exploration blocks are considered gas-prospective, and they are relatively close to the bp-led Tangguh LNG project. They cover a total area of about 12,000 sq km. The initial exploration period will run for three years.
According to EnQuest, Indonesia’s Ministry of Energy and Mineral Resources estimates the potential gas resource across the blocks at more than 100 Tcf.