BP Secures Agung I and II Blocks

By Editorial Team 21/03/2022
oil and gas exploration
Summary

British company BP is now the concession holder of Agung I and Agung II Blocks after winning the second batch of 2021 oil and gas auction held by the Indonesian government through a direct offer tender. Blok Agung I covers an offshore area of ​​6,656 km² off near Bali and East Java.

Meanwhile, Agung II Block is located in the deep sea off the coast of South Sulawesi, West Nusa Tenggara (NTB), and East Java, covering a ​​7,970-square-kilometer area. According to BP, both unexplored blocks have a decent amount of natural gas resources and are close to areas with rising gas demands.

BP Regional President Asia Pacific Nader Zaki said that the Indonesian government's decision to grant the company the operating rights of Agung I and Agung II Blocks cemented BP's position as a trusted partner for Indonesia. "The addition of Agung I and Agung II Blocks to BP's portfolio reflects our commitment to keeping investing and developing our businesses in Indonesia," Zaki said in a written statement on Saturday.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.