SYDNEY (Yosefardi) – The right to explore for unconventional oil and gas resources in Central Sumatra, Indonesia, has been awarded to a consortium in which New Zealand Oil & Gas (NZO) holds an 11.25% interest.

Central Sumatra is one of the major oil producing basins in South East Asia. The MNK Kisaran production sharing contract covers a substantial sub-basin in the same area as the conventional Kisaran production sharing contract where the consortium partners last year successfully drilled for oil and gas.

A plan of development for that discovery is currently being prepared, and expected later this year.

The MNK Kisaran production sharing contract has been formarlly initialled today (July 8). It is one of the first PSCs for unconventional oil and gas resources issued in Indonesia.

It is the first time New Zealand Oil & Gas has had exposure to prospective oil and gas resources that qualify for concessional Indonesia government term.

The MNK Kisaran partners are NZO (11.25%), Bukit Energy (33.75%), and Pacific Oil & Gas (55%).