POSCO, Pertamina Join Forces: Ready to Explore Bunga Gas Block

By Editorial Team 25/07/2023
Summary

POSCO International Corp announced on Tuesday, Jul 25, that it has signed a contract with the Indonesian government and Pertamina Hulu Energy, the state oil company, to undertake oil and gas exploration in the Bunga gas block.

This collaboration reflects the company's effort to further explore energy and resource potential in the region.

The production sharing contract (PSC) between POSCO International, the Indonesian government, and state-owned PT Pertamina Hulu Energy (PHE) grants the company exclusive rights to explore the Bunga gas block located off the eastern coast of Java Island.

The contract allows POSCO International to conduct extensive exploration activities in the Bunga gas block for a duration of six years.

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