ExxonMobil’s new offshore Surumana block covers 5339 square kilometres and is located in the Makassar Straits, according to a Reuters report, while ConocoPhillips has secured 9649sq.km of the Amborip VI block in the Arafura Sea.
Malaysian producer Petronas will explore 4139sq.km of the offshore Lampung II block in the southern part of Sumatra and Canada’s Husky Energy now holds 4254sq.km of the offshore Ease Bawean II block in east Java.
American company Marathon Oil and Canada’s Talisman Energy will divide the offshore Pasang Kayu block covering 4707sq.km in the Makassar Straits.
“Oil exploration is highly capital-intensive and high risk. I do hope with this contract signing today ... we are able to increase our oil production,” Purnomo said in a speech after the signing, according to Reuters.
Indonesia is the Organization of Petroleum Exporting Countries’ second-smallest member in terms of production and has been struggling to maintain output levels in recent years.
According to Reuters, the country’s oil production rates for August averaged 860,500 barrels per day (bpd), which was the lowest in more than three decades and down from 887,000bpd in July.
