BP bags Agung I, Agung II blocks in Indonesia
BP has been awarded Agung l and Agung ll oil and gas exploration blocks during the second round of the Indonesia Petroleum Bid Round 2021, the company said on March 19.
The Agung I block covers an area of 6,656 km2 deepwater offshore Bali and East Java, while the Agung II block is located in deepwater offshore of South Sulawesi, West Nusa Tenggara and East Java covering an area of 7,970 km2. The area is underexplored with significant potential of gas resource close to growing gas demand, BP said.
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“The government of Indonesia’s decision to award 100% interest of the two blocks to BP demonstrates our position as a trusted partner of Indonesia, where we continue to grow our presence and commitment," the company said.
BP operates the country’s largest gas-producing field in Tangguh LNG, Papua Barat, contributing approximately 20% of national gas production and will increase to more than 30% once Tangguh's Train 3 starts up following the completion of Tangguh expansion project. The company also has a non-operated interest in Andaman II production sharing contract, an offshore deepwater exploration block in Aceh.
“The addition of Agung I and Agung II blocks to our portfolio reflects our continuous commitment to invest and grow our business in Indonesia," said Nader Zaki, BP regional president Asia Pacific.