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INDONESIA - Muriah - Petronas.

BP in July sold its stake in the offshore Muriah gas block to Petronas. The block, located in the Java Sea, has the Kepodang gas field, with reserves of about 365 BCF, which is being developed. The field is in water depths of 60 to 180 metres.

Sebaya - Medco: The Indonesian oil and gas company PT Medco Energi Internasional has developed the Sebaya gas field in East Java. In July 2004, it signed two gas sales agreements with a total value of around $1 bn.

Medco signed one contract to sell 20 MCF/d of gas for 15 years to PLN, worth around $260m, with the field's gas to fire PLN's power plant in East Java. Medco agreed to sell another 100 MCF/d PGN starting from 2006 through to 2017. The value of the second deal is around $770m. Thailand's PTT Exploration & Production PCL owns 34% in Medco.
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Publication:APS Review Gas Market Trends
Date:Mar 7, 2005
Words:149
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