Kangean Project Awarded As One of The Six Best PSCs by Indonesian Government

Japan Petroleum Exploration Co., Ltd (JAPEX) is pleased to announce that Kangean Energy Indonesia Ltd. (KEI), a JAPEX's affiliate and the operator of the Kangean PSC block in East Java, Indonesia, has been awarded with "Best Performance of Financial Reporting & Compliance 2013" by SKKMigas (Special Task Force for Upstream Oil and Gas Business Activities). 

Ninety (90) PSC contractors in total were invited for this competition, and the two of major aspects i.e.(i) financial performance and (ii) business process and corporate behavior were applied for the evaluation. Then, the six PSC contractors including KEI out of 90, through shortlisting process, has been finally given the award. 

KEI started commercial production from the Terang gas field on May 26, 2012 with a current gas production average of 260 million cubic feet per day (approximately 47 thousand barrels of oil equivalent per day).  Moving towards the development of the Sirasun and Batur gas fields in the TSB gas deposit area, JAPEX also seek for the further exploration and development in the PSC block. With these efforts, JAPEX will continue to pursue its contribution in a stable supply of energy in Indonesia.