AWE exits North Madura PSC
Wednesday, March 16 2016 - 04:50 AM WIB
ASX-listed AWE Limited plans to exit from the North Madura PSC, offshore Java Sea, according to company presentation material seen on Wednesday.
No further details were provided.
The North Madura block covers approximately 1,850 square kilometers and is located offshore East Java in water depths of 45 meters. The block is located in the NE Java Basin, one of Indonesia?s most prolific hydrocarbon producing areas and is along trend with several producing fields, most notably the Ujung Pangkah and Poleng oil and gas fields.
This portal reported last year that AWE, as operator of the block with a 50 percent interest, has acquired approximately 1000 kilometers of 2D seismic over the southern part of the block. The other 50 percent interest is held by Bermuda-registered oil and gas company AziPac Limited following acquisition last year.
Editing by Reiner Simanjuntak