11 CONTRACTS APPROVED IN TIMOR GAP

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

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