By OGJ editors
HOUSTON, Aug. 26 -- The Indonesian government awarded Australian Santos Ltd. a new Production Sharing Contract (PSC) in the East Java basin.
The North Bali 1 PSC is east of Java and north of Bali. The block covers 3,449 sq km in 100-970 m of water.
Several oil and natural gas fields have been discovered within the vicinity, Santos said. The work program for the PSC includes the acquisition of 2D seismic data and the drilling of one exploration well within 12 months.
Santos has 100% interest in the permit and is the operator.
April 7, 2025
Ring Energy Inc.
