Cue bids for Sampang PSC<\/p>\n
WELLINGTON (Reuter): New Zealand exploration company Cue
\nEnergy Resources Ltd said yesterday a consortium of which it is a
\npart has been notified that it is the preferred bidder for the
\nSampang PSC in Indonesia.<\/p>\n
Cue Energy (15 percent), Coastal Oil and Gas Corporation (40
\npercent) and Santos Limited (45 percent, operator) lodged a bid
\non June 27 for the Sampang block PSC.<\/p>\n
\"The consortium has been notified by Pertamina that it is the
\npreferred bidder for the acreage. The work program, expenditure
\nand production sharing contract (PSC) are currently being
\nnegotiated with Pertamina,\" the company said.<\/p>\n
It is expected that this process will take several weeks.<\/p>\n
Pertamina is the Indonesian state oil company.<\/p>\n
The Sampang Block is located offshore in the East Java region,
\neast of the island of Java and immediately south of Madura
\nIsland.<\/p>\n
The block covers an area of 2677 sq km with water depths
\nranging from zero to less than 60 metres.<\/p>\n
The Sampang Block is immediately to the east of Surabaya,
\nIndonesia's second largest city, a major seaport and industrial
\ncenter. Extensive port, infrastructure and support facilities are
\navailable.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/cue-bids-for-sampang-psc-1447893297",
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"sponsor": "Okusi Associates",
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