PETRONAS E&P Bobara, a subsidiary of PETRONAS, has signed a Production Sharing Contract (PSC) for the Bobara Working Area located at the offshore of West Papua, Eastern Indonesia. PETRONAS has been awarded the Bobara Working Area with a total acreage of 8,444.49 sq kms during the third round of Indonesia Petroleum Bid Round 2023.
Under the PSC, PETRONAS will operate and hold 100 per cent equity in this Working Area, where the commitments for the first three years involve three geological and geophysical studies, including 2,000 sq kms of 3D seismic data acquisition and processing.
The PSC signing ceremony took place during the opening ceremony of the Indonesian Petroleum Association (IPA) Convention on Tuesday, 14 May 2024, at the Indonesia Convention Exhibition (ICE), BSD City, Tangerang. In this signing ceremony, PETRONAS was represented by Executive Vice President & CEO Upstream, PETRONAS, Datuk Adif Zulkifli, while SKK Migas was represented by Chairman of SKK Migas, Dwi Soetjipto.
Datuk Adif Zulkifli said, 'The signing of the Bobara PSC marks a significant milestone in our steadfast commitment to sustainable energy exploration and development in the region. This reflects PETRONAS’ long-term dedication to supporting Republic of Indonesia’s aspiration to achieve the 2030 production targets. PETRONAS appreciates the unwavering support and trust given by the Government of Indonesia to unlock the hydrocarbon potential in this exciting frontier area.'
Presently, PETRONAS is the operator for the Ketapang, North Madura II, and North Ketapang PSCs, located offshore East Java, and is a joint venture partner in five PSCs located both onshore and offshore Sumatra, Natuna Sea, East Java, as well as East Indonesia.
Source: PETRONAS
