For more than 55 years, bp has been an energy partner to Indonesia and continues to be the largest investor providing integrated energy solutions to the country. Resilient hydrocarbons is one of the three pillars underpinning bp strategy. The award of Agung I and II blocks demonstrates bp commitment to continuing to explore for hydrocarbons in high value areas.

The area is defined as the offshore deep-water NE Java and North Bali Basin. Both blocks are an under- explored part of a prolific basin in Indonesia in which more than three Bnboe oil and gas has been discovered to date. Given the sparse 2D seismic lines over the area and lack of wells drilled, this area is attractive for further exploration.

Though the deep-water offshore is largely under explored, onshore and shallow water area have numbers of carbonates and clastic reservoir discoveries, such as Eocene clastics at Pagerungan L 46- 1, Eocene carbonates at JS53 and West Kangean, Oligo-Miocene carbonates at Banyu Urip, Sukowati, BD, and Pliocene Terang-Sirasun.

A significant undrilled rock volume could offer multi Tcf YTF resources. A series of prospects and leads targeting Oligocene carbonate reservoir sourced by Palaeocene-Eocene syn-rift shale have been identified using current data. An exploration program of acquiring new seismic is planned to better define the targets.