Harbour Energy, Mubadala Sign Deals for Central Andaman Block Off Indonesia

© donvictori0 / Adobe Stock

Indonesia has signed a contract with units of Harbour Energy and Mubadala Energy for the development of a Central Andaman oil and gas block, the energy ministry said in a statement on Tuesday.

The contract was signed under a new gross split scheme, the first deal to employ the simplified scheme since it was launched, the ministry said.

Central Andaman is located offshore of northern Sumatra island. The block has estimated resources of 100 million barrels of oil and 500 billion cubic feet gas, according to energy ministry data.

(Reuters - Reporting by Fransiska Nangoy; Editing by John Mair)