Investment22 Jan 2025, 10:38 pm
Bharat Petroleum to Invest USD 121 Million in Indonesian Oil and Gas Block
AI Summary
Bharat Petroleum Corporation Limited has approved the submission of a development plan to the Indonesian Regulator for the Nunukan block. The company's subsidiary, Bharat PetroResources Limited, holds a 16.23% participating interest in the block. Once approved, an estimated investment of USD 121 million will be incurred. Pertamina Hulu Energi Nunukan Inc., a subsidiary of Pertamina, is the Operator of the block.
Key Highlights
- Bharat Petroleum to invest USD 121 million in Indonesian oil and gas block
- The investment will be made once the development plan is approved by the Indonesian Regulator
- Bharat PetroResources Limited, a subsidiary of Bharat Petroleum Corporation Limited, holds a 16.23% participating interest in the block
- Pertamina Hulu Energi Nunukan Inc., a subsidiary of Pertamina, is the Operator of the block
- The Nunukan block is located in Indonesia