Indonesia awards second shale gas block

Indonesia has awarded its second shale gas exploration block to a consortium of foreign oil firms that included New Zealand Oil & Gas Ltd., according to Reuters.

The New Zealand company, along with Canada's Bukit Energy and Pacific Oil & Gas Ltd. in Hong Kong, won the tender to explore the Kisaran block in North Sumatra.

Reuters said that the consortium agreed to commit more than $11.5 million, which will go toward conducting a geology and geophysics study, a seismic survey, and at least one exploration well.

 

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