Indonesia's state oil company Pertamina and the Australia-Indonesia Joint Authority for the Timor Gap Zone Of Cooperation have approved 11 production sharing contracts covering Area A in the Timor Sea.
Area A was opened for competitive bidding June 24, 1991, and closed Oct. 7, 1991 (OGJ, Oct. 7, 1991, p. 47). Applications were received for 12 of 14 zone of cooperation areas (ZOCAs).
In total the contracts represent commitments to spend more than $360 million (Australian) for more than 52,000 line km of seismic surveys and 45 wells. Each contract includes a 6 year exploration commitment.
Pertamina expects seismic surveys to begin early this year with exploratory drilling starting by yearend.
CONTRACT AREAS
Six of the contracts were signed in mid-December and five are to be signed early this month.
BHP Petroleum Pty Ltd. will operate ZOCA 91-01 with Indonesia Petroleum Ltd. The pair will spend $33.36 million, conduct 5,000 line km of seismic surveys and drill four wells.
A Shell Oil Co. unit will operate ZOCA 91-02. Shell, with partner Chevron Corp., will run 2,500 line km of seismic surveys and drill one well with spending projected at $11.6 million.
Woodside Offshore Petroleum Pty Ltd. with Shell, BHP Petroleum, and BP Petroleum Development Ltd. signed contracts covering ZOCAs 91-03 and 91-04. The group will spend a total of nearly $28 million on the two areas.
Work includes 2,300 line km of seismic surveys on each area, one well on ZOCA 91-03 and three wells on ZOCA 91-04.
Woodside previously held an Australian title and was given the option to match the best bid on its nominated contract area.
An undisclosed applicant for ZOCA 91-05 withdrew the application, and there were no bids received on ZOCAs 91-06 and 91-07. Pertamina said the contract areas not awarded will be opened for a second round of bidding early this year. Meantime, the areas will be opened for speculative seismic prospecting.
Petroz NL, Perth, and Sagasco Resources Ltd. Adelaide, Australia, will spend about $28.5 million exploring ZOCA 91-08. Seismic surveys totaling 6,000 line km and three wells are planned.
Enterprise Oil plc will spend $26.4 million on ZOCA 91-09, where it will conduct 4,500 line km of seismic and drill three wells.
Marathon Oil Co. has a signed contract and leads a group that will spend about $86 million in the next 6 years exploring ZOCAs 91-10 and 91-11 (OGJ, Dec. 30, 1991, p. 39).
Petroz holds an Australian title on ZOCA 91-12 and and leads a group that matched the best bid on that contract area. The group has a $47.4 million work commitment that includes 6,000 line km of seismic surveys and six wells.
A Phillips Petroleum Co. unit signed a contract covering ZOCA 91-13. Phillips and partners Oryx Energy Co., Dallas, Hardy Oil & Gas U.S.A. Inc., Houston, and Bridge Oil Ltd., Sydney, will run 7,500 line km of seismic surveys and drill seven wells. Expected spending is $58.54 million.
Enterprise and Nippon Oil Co. Ltd. plan to spend $42.4 million on ZOCA 91-14. The two will drill five wells and run 6,000 line km of seismic surveys.
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