BP Wins Exploration Rights Offshore Indonesia



BP has been awarded two oil and gas production sharing contracts (PSCs) by the Government of Indonesia. The company has been awarded 100 percent interests in the offshore West Aru I and II PSCs in the Arafura Sea, Indonesia.

The West Aru I and II PSCs are located approximately 500 kilometers southwest of the BP-operated North Arafura PSC and 200 km west of the Aru island group, in the Maluku province of Indonesia. The West Aru I PSC covers an area of approximately 8,100 square kilometers and the West Aru II PSC covers an area of approximately 8,300 square kilometers. The two blocks have water depths ranging between 200 meters and 2,500 meters. BP expects to commence seismic operations in these blocks in the near future.

''In the past two years BP has deepened its position in Indonesia through access to four coalbed methane PSCs in Kalimantan and three conventional gas blocks in Papua. These two new blocks are strong additions to this portfolio and will benefit from BP's expertise in deepwater exploration. We appreciate the continued support and confidence of the Government of Indonesia,'' said William Lin, BP's Regional President for Asia Pacific.

Including the award of these blocks, BP has gained access to 69 new license blocks in 11 countries around the world since October 2010, including the Kalimantan coalbed methane and North Arafura blocks in Indonesia. The company plans to double its spend on exploration worldwide over the next few years.



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