Area Drilling

BahrainPetronas of Malaysia signed exploration and production sharing agreements for two southeastern offshore blocks and said it will begin drilling on both by 2002.Petronas will operate Blocks IV and VI with 100% stakes. Those blocks and Block V were offered for international bid in March.New ZealandTwo Australian independents were awarded an 11,665 sq km, 5 year permit in the Great South basin.PEP 38215 lies 90-160 miles southeast of the South Island.Participants are Hardman Resources NL, Perth, Bounty Oil & Gas NL, 43.75% each, Albatross Energy Pty. Ltd. 10%, and McKenzie Petroleum Ltd. 2.5%.They plan to target potential in Lower Tertiary and Upper Cretaceous on the west side of the b...

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