Exploration period of East Muriah PSC extended
Thursday, January 29 2015 - 02:30 AM WIB
The government of Indonesia has granted a four-year extension of the exploration period in the East Muriah PSC, East Java, ASX-listed AWE Ltd said in a statement Thursday.
AWE owns 50 percent interest in the East Muriah PSC, with the other 50 percent held by SGX-listed KrisEnergy Ltd as the operator.
AWE also said that the joint venture has decided not to proceed with the East Lengo-2 appraisal well drilling program originally intended to confirm additional gas prospects in the block.
The East Muriah PSC forms part of the AWE?s East Java assets which include North Madura PSC (50 percent operating interest) and Terumbu PSC (100 percent interest).
AWE said in the statement that a 2D seismic survey for North Madura PSC and Terumbu has been completed and is now being processed, with expected delivery in the March quarter.
Editing by Reiner Simanjuntak