PTTEP won the petroleum exploration rights for four offshore blocks in Indonesia.
PTTEP acquired the rights through the Indonesia Petroleum Bidding Round 2009/2010, joining with its partners, Talisman (Asia) Limited or Talisman, in participating in the bidding process. The Production Sharing Contract awarded to the consortium was signed by Indonesian authority.
Four offshore blocks are Malunda, South Mandar, Sadang and South Sageri. These blocks are situated in the Makassar Strait, off the coast of Sulawesi and Kalimantan in Indonesia. PTTEP will be the operator of Malunda and South Mandar and holds 100% and 67% share, respectively, while Talisman holds the rest. For another two blocks, Sadang and South Sageri, PTTEP will hold 40% and 30% share while Talisman, the operator, holds 60% and 70% share.
During the primary period, the consortium will conduct 3D seismic survey and drill at least one exploration well.