BP have been awarded Agung l and Agung ll oil and gas exploration blocks, which the government has put on as a Direct Offer tender as part of the second round of 2021 Oil and Gas Working Area (WK) Bid Round and became the nation’s second bid round last year.
The Agung I Block covers an area of 6,656 (2,570 sq mi) square kilometres 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 square kilometres (3,077 sq mi). According to BP This area is unexplored with significant potential of gas resource close to the local growing gas demand.
For both blocks, the BP will hold a 100% interest. BP will carry out deepwater oil and gas exploration offshore Indonesia. The move offers a new project for Indonesia’s upstream sector that has seen big international firms exit recently.