Neon Signs Taniung Aru PSC

摘要

Neon Energy has signed the Tanjung Aru Production Sharing Contract (PSC) with a joint venture consortium of operator KrisEnergy Ltd. (43%), Neon Energy (42%) and Natuna Ventures (15%). The Tanjung Aru block covers 4,200 sq km offshore Kalimantan, in water depths of 20 m to more than 1,000 m, according to RWE Equity Business News Service. The JV has already identified multiple petroleum plays in both shallow water and deep water, each with the potential for commercial accumulations of gas/condensate and/or oil.