CNOOC enters into deals for exploration blocks in Indonesia

The exploration period will last for three years.

CNOOC Limited has announced that its wholly owned subsidiaries have entered into two Production Sharing Contracts (PSCs) for exploration blocks in Indonesia.

In a statement, CNOOC said the deals, signed with SKK Migas, the subsidiaries of other Tangguh partners, EnQuest and Agra, were for Gaea and Gaea II exploration blocks.

The blocks are mainly located both onshore and offshore in southern Papua Barat Province, in proximity to the Tangguh LNG project. The total area of the two blocks is approximately 12,000 square kilometres.

According to the terms of the contracts, the first stage of the exploration period shall be three years.