SK Earthon South East Asia oil exploration expands with North Ketapang stake

South Korea’s SK Earthon has acquired a 34% involvement successful the North Ketapang artifact successful Indonesia from Petronas North Ketapang, furthering its South East Asia lipid exploration strategy.

The North Ketapang block, situated north-east of Java island, present includes SK Earthon alongside Petronas North Ketapang, which retains a 51% share, with Indonesia’s state-owned PT Pertamina Hulu Energi North Ketapang holding the remaining 15%.

This acquisition is the Korean lipid exploration and accumulation (E&P) company’s 3rd exploration artifact successful Indonesia pursuing its earlier successes earlier this twelvemonth successful the Serpang and Binaiya blocks, according to the Korea Economic Daily.

In May, SK Earthon secured the rights to make the Serpang artifact offshore the north-east of Java and the Binaiya artifact adjacent the eastbound Maluku Islands, each covering astir 8,500km².

With the summation of North Ketapang, SK Earthon present holds assets successful Indonesia, Vietnam and Malaysia, regarded arsenic South East Asia’s 3 largest oil-producing countries.

The institution has described this portfolio operation arsenic a cardinal constituent of its determination approach.

SK Earthon has maintained a beingness successful Vietnam since 1998, wherever it holds a 25% involvement successful 4 blocks co-developed with Murphy Oil and PetroVietnam Exploration Production.

Its main asset, Block 15-1, continues to produce, portion exploration successful 2025 led to caller lipid discoveries successful Blocks 15-1/05 and 15-2/17 successful the Cuu Long Basin, which accounts for much than fractional of Vietnam’s lipid and state output.

The institution has initiated the merchantability of portion of its Vietnamese portfolio, excluding Block 15-1.

In Malaysia, SK Earthon was awarded operatorship of the SK427 artifact offshore Sarawak successful 2022 and widened its beingness successful 2024 by assuming operatorship of the Ketapu block, besides successful Sarawak.

SK Earthon holds an 85% involvement successful the Ketapu Cluster, with the remaining 15% owned by Petroleum Sarawak Exploration and Production.

According to the Korea Economic Daily, SK Earthon said that its swift accumulation of South East Asian acreage is intended to found a clump supporting semipermanent exploration, accumulation and investment.

"SK Earthon South East Asia lipid exploration expands with North Ketapang stake" was primitively created and published by Offshore Technology, a GlobalData owned brand.

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