Release: PTTEP: Investment in petroleum exploration and production
Wednesday, May 19 2010 - 07:13 AM WIB
(19 May 2010)--PTT Exploration and Production Public Company Limited, or PTTEP, wishes to announce that PTTEP together with Talisman (Asia) Ltd. (Talisman), have been selected as the successful bidders in Indonesia Petroleum Bidding Round 2009/2010 for 4 Petroleum Exploration and Production Blocks, located offshore in the Makassar Strait zone, west of Sulawesi Island, Indonesia, as follows:
| Blocks | PTTEP (%) | Talisman (%) | Operator | Area (Square km.) | Block's status |
| South Mandar | 67 | 33 | PTTEP | 3,882 | Early Exploration phase |
| Malunda | 100 | - | PTTEP | 5,148 | Early Exploration phase |
| Sadang | 40 | 60 | Talisman | 3,718 | Early Exploration phase |
| South Sageri | 30 | 70 | Talisman | 3,700 | Early Exploration phase |
The successful bidding in the aforementioned exploration blocks is in line with PTTEP's key strategic objectives in expanding its investment base in Indonesia, which has high petroleum potential. Currently, the company has investment in an exploration block, Indonesia Semai II project, in which one exploration well is planned for 2010. (end of release)