International players Lasmo, Shell, Apex and Petromer will spend a combined minimum of $96 million in committed exploration work on their respective concessions. The four offshore contracts cover a total area of 22,274 square kilometres. UK independent Lasmo has been awarded the Krueng Mane block off North Sumatra following 12 months of negotiations. The company wants to move ahead quite rapidly with exploration work and is looking to bring on board a partner for the project, where it currently has 100% equity.
Jakarta block famine ends with flourish
INDONESIAN state oil company Pertamina has signed four production sharing contracts, the first such deals for Indonesian exploration acreage in 1999.
2 October 1999 0:00 GMT
Updated
2 October 1999 0:00 GMT