NZ Oil and Gas Signs PSC in Indonesia

New Zealand Oil and Gas and partners have signed a PSC with for permit in Sumatra.

Prospects and leads have been identified Bohorok block which covers an area 5022 square kilometre. Northern part of this block is adjacent to and partly surrounds several oil and gas fields, which include the Timur and Wampu fields.

The joint venture has committed to acquiring 200 kilometres of 2D seismic and a range of geological studies for the initial three year exploration work program.

NZ Oil and Gas has 45% stake, Bukit Energy Asia (45%) and PT Surya Buana Lestarijaya (10%).