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(From Business Times (Malaysia))
PETROLIAM Nasional Bhd (Petronas) has secured its ninth block in Indonesia's upstream oil and gas sector, with the award last week of a new offshore block, Lampung II.
In a statement, Petronas said the company, through its wholly-owned subsdiary PC (Lampung II) Ltd, signed a Production Sharing Contract (PSC) for the block in Jakarta last Friday.
According to Petronas, the Lampung II block, measuring about 4,168 sq km, is located about 150km east off the south-eastern coast of Sumatra.
Under the PSC terms, PC Lampung II will acquire, process and interpret 250 sq km of 3D seismic data, drill two exploration …