Saturday, April 2, 2011

BP acquires interest in four new CBM PSCs in the Barito Basin, South Kalimantan

BP has acquired 44% interest in Tanjung IV CBM PSC along with Pertamina holding the remaining 56% and 45% in the Kapuas I, II and III CBM PSCs Sugico holding the remaining 55%. Together, the four PSCs cover an area of approx. 4,800 sq kms. These awards mark BP's first CBM access in Indonesia outside its joint venture with ENI, VICO, which in late 2009 was awarded the Sanga Sanga CBM PSC near the Bontang LNG plant in East Kalimantan.

BP's future exploration focus

BP's current exploration projects

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