KrisEnergy: Reduction of Bala-Balakang, Sakti PSCs approved
Friday, November 10 2017 - 01:07 AM WIB
SGX-listed KrisEnergy Ltd said on Thursday that the Indonesian authorities approved in September of this year the reduction of the Bala-Balakang PSC in the Makassar Strait to 838 sq km from 3,143 sq. km under a second relinquishment period regulations.
The company said in a statement that in August, the Indonesian authorities approved the reduction of the Sakti PSC in the East Java Sea to 3,719 sq km from 4,974 sq km under the first relinquishment period regulations.
No further details were provided.
KrisEnergy holds 85 percent operated working interest in Bala-Balakang PSC, while Natuna Ventres Pte Ltd holds the remaining 15 percent.
KrisEnergy owns 95 percent interest in the Sakti PSC, while partner Golden Heaven Jaya Ltd holds the remaining 5 percent.
Editing by Reiner Simanjuntak