Indonesia's extensions of PSCs should raise output

摘要

Jakarta-The Indonesian government has extended four production sharing contracts for oil and gas blocks for 20 years in a move that should boost Indonesia's production by 174 million barrels of oil and 1.78 Tcf of gas over that period, a senior government official said October 28. The contracts cover the Bawean block off- shore East Java; the Madura Strait block; the South Sumatra block and Block A in Nanggroe Aceh Darussalam. Operators Medco Energi International, Camar Resources and Canadian Husky will invest a total $4.58 billion in the next 20 years to develop the blocks, Evita Legowo, oil and gas director general at the energy and mines ministry, said. "The blocks contain 321 million barrels of oil and 2.4 Tcf of proven gas reserves," she added.