BHP to explore Timor Sea

BHP to explore Timor Sea

JAKARTA (JP): The Broken Hill Proprietary Company Limited, a Victoria-based Australian firm, announced yesterday that its wholly owned subsidiary BHP Petroleum (North West Shelf) Pty. Ltd. was awarded an oil exploration permit in the Timor Sea.

The company said in a press release that the oil field -- code-named WA 260 P -- is located in the Bonaparte Basin and is adjacent to the previous permit area of AC/P8.

The AC/P8 area contains the Laminaria and Corallina discoveries and next to the Australia-Indonesia Zone of Cooperation, said the press release. (kod)