The Indonesian Ministry of Energy and Mineral Resources (ESDM) has awarded 4 oil and gas exploration blocks in a Direct Offer auction as part of the second round of 2021 Oil and Gas Working Area (WK) Bid Round, signing US$1.2m in bonus. The total investment value of the 4 WKs is US$14bn. BP was awarded a 100% interest in the Agung I and Agung II gas exploration blocks. The Agung I Block covers an area of 6,656 km2 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 km2. The area is under-explored with significant potential of gas resources. In addition, Petronas has secured a 100% stake in the 3,131.8 km2 North Ketapang block located onshore and offshore East Java. The last block was won by the Indonesian oil and gas company PT Mitra Multi Karya.
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