PC Ketapang II Ltd., a Petronas subsidiary, secured a 20-year extension of the production sharing contract (PSC) for the Ketapang Working Area in the Java Sea.
The extension, to December 2028, was granted by the Government of Indonesia through the Ministry of Energy and Mineral Resources on Dec. 22, 2023.
The Ketapang PSC includes Bukit Tua oil and gas field about 100 km offshore East Java, Indonesia. In April 2022, PC Ketapang II produced first hydrocarbons from Bukit Tua Phase-2B’s BTJTB-T2 well (OGJ Online, Apr. 15, 2022).
Petronas is operator of Ketapang block (80%) through two subsidiaries, PC Ketapang II Ltd. and Petronas Carigali (Ketapang) Ltd. The remaining 20% is held by PT Saka Ketapang Perdana.
Petronas also is operator of the Ketapang PSC and North Madura II PSC offshore East Java, and is a joint venture partner in six PSCs onshore and offshore Sumatra, Natuna Sea, East Java, as well as East Indonesia.
