Petronas secures extension for Ketapang PSC in Indonesia

Petronas subsidiary, PC Ketapang II (PCK2L), has secured a 20-year extension for the production sharing contract (PSC) for the Ketapang working area, located in the Java Sea, offshore Indonesia, Petronas said on January 4.

The extension, officially granted by the government of Indonesia through the ministry of energy and mineral resources on December 22, ensures the continuation of the Ketapang PSC beyond its initial expiration in 2028. Importantly, the extension maintains the same composition of participating interests, providing stability and continuity for all stakeholders involved.

“We are grateful to the government of Indonesia for the PSC extension, which will allow Petronas to continue leveraging our strong portfolio in Indonesia, through our key strategic projects that we have planned for the Ketapang working area,” CEO of upstream Petronas, Datuk Adif Zulkifli, said.

Currently, Petronas serves as the operator for the Ketapang, North Madura II, and North Ketapang PSCs, all situated offshore East Java. Additionally, the company is a joint venture partner in seven other PSCs, located both onshore and offshore in Sumatra, Natuna Sea, East Java, as well as east Indonesia.