Canada's Sonoro Bags Indonesian Oil, Gas Block
Canada-listed Sonoro Energy and its Indonesian partner, Menara Global Energi, have been awarded the Selat Panjang production sharing contract in Indonesia, it said May 7.
The PSC has been awarded under Indonesia’s 2019 Conventional Bid Round. Sonoro has a 25% interest in the project with an option for up to an additional 24%.
The 923 km2 Selat Panjang PSC area is situated in Riau province, Central Sumatra and the block has produced oil and gas in prior years, Sonoro said. In 2014, the Indonesian ministry of energy approved a plan of development for further production; however, in 2018, the block PSC was terminated by the ministry and as a result the plan of development was not implemented.
Sonoro and its partner will complete the final proceedings for execution of the PSC in the next couple of days, it said.