will develop the GG field located in the sea 30 km north of Cirebon, West Java, with an investment of US$152 million.
Oil & gas company CNOOC Limited (NYSE:CEO)(SEHK:0883) said on Thursday that its subsidiary, CNOOC Southeast Asia Limited, announced the sale of CNOOC ONWJ
Ltd for approximately USD212m.
In addition, PGN hopes to extend its contracts with 5 other oil and gas PSC contractors including Pertamina West Java, Ellips Jatirarangon, PHE ONWJ
, Kodeco and Pertamina Medan with potential supply of 78 MMSCFD in 2010 and 159 MMSCFD in 2011.
Pertamina acquired 40% of ONWJ
block from BP Indonesia and 10% of the BMG block from ROC Oil Ltd.
Karen said the stake in ONWJ
will increase Pertamina's daily production by 12,000 barrels of crude oil and 100 million cubic feet of gas per day.